Shanghai aims to reach about $54 billion in NEV output by 2025
Shanghai aims to reach 350 billion yuan ($54 billion) in new energy vehicle manufacturing output by 2025, according to its latest plan.
The eastern Chinese mega-city on Wednesday unveiled its strategic emerging industries development plan for the 14th five-year plan period (2021-2025).
Shanghai aims to further increase the share of electric vehicles and fuel-cell vehicles, promote the transformation of car companies into emerging industries and nurture auto parts companies with tens of billions yuan in sales.
The plan says it will promote breakthroughs in power battery technology, improve battery energy density, safety and battery life, and promote the development of high power-density drive motors and control systems to system integration, structural lightness and intelligence.
Shanghai will promote hydrogen fuel cell vehicles into the market, breakthroughs in membrane electrodes, electric reactors, proton exchange membranes and other key components to reduce the cost of fuel cell vehicles.
Shanghai proposes to encourage companies to carry out research and development of vehicle-grade chips, vehicle operating systems, vehicle AI computing platforms, vehicle networking communications, LiDAR, millimeter-wave radar, high-precision maps, sensors, and explore the commercialization and operation of intelligent network-connected vehicles.
In addition, Shanghai will develop various types of services such as new energy vehicle battery recycling, ride hailing, and intelligent networked vehicle testing.