New Energy Vehicles Industry in China: Developments and Challenges

China’s development of its New Energy Vehicles industry since 2009 has been strengthened through the “Made in China 2025” plan in 2015. The Chinese authorities have provided numerous supporting policies, but the high financial burden, inconvenience of use, technical uncertainty on the demand side, high battery cost and imperfect competitive domestic market on the supply side have impeded the development of the industry.