Beijing, May 20 (Xinhua) — China’s new energy vehicles (NEVs) boast global competitive advantages, thanks to technological breakthroughs, well-developed industrial chains, and an open and innovative industry ecosystem, officials said.
Chinese automakers account for four of the top 10 NEV manufacturers globally, with BYD the world’s largest NEV producer, Huo Fupeng, an official with the National Development and Reform Commission, told China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency.
Over the past decade, China has registered a compound growth rate of over 70 percent in both NEV sales and output, Huo said, adding that such growth momentum has sustained