China moves NEV target forward to 45% of auto sales by 2027

Electric cars gain ground faster than expected in world's biggest market

20240112N BYD Seal

Chinese electric-vehicle makers like BYD have been stepping up exports. © Reuters

SHUNSUKE TABETA, Nikkei staff writer

BEIJING -- China now aims to have so-called new energy vehicles make up 45% of all new-auto sales by 2027, setting a more ambitious target in light of the faster-than-expected spread of electric models.

The new figure appears in a list of environmental goals released Thursday by the government and the ruling Communist Party.

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