Insight
China’s 2035 target: No more conventional ICE cars
Report summary
China aims to phase out conventional internal combustion (ICE) engine car sales by 2035, with its car market to be split evenly between new energy vehicles (NEVs) and hybrid electric vehicles (HEVs). The new goal reaffirms China’s ambition for vehicle electrification, while endorsing HEVs as the bridge between ICE cars and NEVs. This Insight provides our analysis of a few major policies/factors supporting the new goal and our projection of liquids demand from China’s light vehicles. - What is China's “dual credit” scheme and will it be an effective policy tool? - What are the expected growth sectors for electric vehicles? - Does China have electric vehicle charging networks to meet the roadmap? - What will be the impact on oil demand in the next decade and a half?
Table of contents
- China’s dual credit scheme – a case for carrot and stick
- Planned infrastructure acceleration
- BEV purchase subsidies are phased out
- Large growth potential in the rural BEV markets
- Global automakers to add competition to the biggest auto/BEV market
- Implications on China’s oil demand
Tables and charts
This report includes 5 images and tables including:
- China’s roadmap targets on fuel efficiency for passenger cars (2016-2035)
- Cumulative charging outlet installations in China (2020 – 2050)
- China’s BEV subsidy per car from 2016 to 2022
- China’s BEV sales among the top 20 BEV brands in 2020
- China’s passenger light vehicles stock composition and liquids demand
What's included
This report contains:
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