China's new energy vehicle (NEV) industry is accelerating at an unprecedented rate, solidifying its position as a global leader in innovation. According to Miao Wei, vice chairman of the Committee on Economic Affairs of the Chinese People's Political Consultative Conference National Committee and former minister of industry and IT, the NEV sector requires a dual focus on software advancements and charging infrastructure to sustain its stellar growth.
In an exclusive interview, Miao emphasized the pivotal role of software, particularly artificial intelligence (AI), in defining the future of NEVs. \"Software defines cars,\" he stated, highlighting the importance of AI-powered technologies like autonomous driving in propelling the industry forward.
NEVs, alongside lithium batteries and solar panels, have emerged as China's \"new three pillars\" of export, reinforcing the nation's innovative edge. Originally targeting NEVs to account for over 50% of new car sales by 2035, Miao unveiled projections suggesting this goal could be achieved a decade earlier.
The surge in consumer acceptance is evident, with NEV market share in China surpassing 31% in 2023. This trend isn't confined to domestic borders; NEV exports soared by 77% to reach 1.2 million units the same year. A CGTN AI host recently showcased four key factors driving NEV popularity among Chinese consumers, reflecting the robust demand.
Despite the impressive growth, Miao cautions that maintaining this momentum hinges on addressing critical challenges. Beyond software, the expansion of charging infrastructure remains a pressing need. \"By the end of last year, there were about 2.4 NEVs for every charging station,\" Miao explained, pointing out that the increase in charging poles hasn't kept pace with the rapid promotion of NEVs.
He believes that enhancing the charging network will enable the use of lighter, lower-capacity batteries in NEVs, leading to more affordable vehicle prices and reduced energy consumption. \"This is a virtuous cycle process,\" Miao concluded, underscoring the interconnectedness of software innovation and infrastructure development in driving the future of China's NEV industry.
Reference(s):
Tech Talk: China's NEV boom needs software and charging pole boost
cgtn.com
