Insiders: Partnerships crucial in driving NEV industry forward

Open and collaborative partnerships are the intrinsic forces for developing the global new energy vehicle industry, in order to drive technological advancements and tackle climate change, officials and executives said on Wednesday.

China's NEVs not only provide diversified and cost-effective choices for global consumers, but also help more countries achieve green and low-carbon transformation and sustainable development, they said during the seventh Hongqiao International Economic Forum in Shanghai.

Globalization is the most apparent feature of the automotive industry's evolution. The evidence is clear — it is openness to technology and cooperation across the value chain that have fueled rapid advancements in the sector, said Xiong Jijun, vice-minister of industry and information technology.