China Sets 2030 Targets For Smart Connected New-Energy Vehicles

Bloomberg reported that China has issued a notice on the development plan for the smart connected new-energy vehicle industry under the 15th Five-Year Plan. The plan sets a goal for 2030 of further consolidating China’s advantages across the full industrial chain for smart connected new-energy vehicles. It also targets new-energy passenger vehicles to account for 70% of total new vehicle sales in their segment and new-energy commercial vehicles to account for 40% in theirs, while vehicles with autonomous driving functions are to achieve large-scale application.