Global automakers eye NEV alliances in China

Electric cars, plug-in hybrids, fuel cells attracting huge investments as fast-growing renewables sector gains traction

Automakers worldwide are racing to partner with Chinese companies in the new energy vehicle sector as they push deeper to explore the potential of the latest wave of changes in the industry.

In China, combined sales of electric cars, plug-in hybrids and fuel cell vehicles exceeded 5 percent of total vehicle deliveries for the first time in the first half of 2019, and the Ministry of Industry and Information Technology expects the figure to reach 25 percent by 2025.

The government's ambition and prospects in the world's largest vehicle market are attracting foreign carmakers to boost investment in China.