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Independent economist Ren Zeping has suggested that China introduce a timetable to ban the sale of fuel cars within five years and have regions south of Hebei actively develop the new energy sector.
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A prominent economist is proposing that China should ban the sale of conventional fuel cars within five years, sparking widespread discussion on social media.
Independent economist Ren Zeping said on Weibo today that he suggested China introduce a timetable for a ban on fuel cars within five years and for the region south of Hebei to actively develop the new energy sector.
He hinted that this is a move China needs to make to reach its carbon peak and carbon-neutral targets, as well as to expand domestic demand.
The words have generated a lot of discussions, with many opposing voices in the Weibo comments section, some of whom say that fuel car production and sales could also expand domestic demand.
Ren used to work for China's national think tank, as chief macro analyst at Guotai Junan and chief economist at Evergrande Group. He is currently an independent economist and has set up his own studio.
China does not currently have a national timetable for banning fuel cars, although the southernmost province of Hainan did so last year.
A carbon peak implementation plan released by the provincial government on August 22, 2022, said that by 2030, the sale of fuel cars will be completely banned across Hainan.
By then, vehicles in Hainan's public services and operations will be fully powered by clean energy, except for special uses, the plan said, adding that 100 percent of new and replacement vehicles in the private sector will be new energy vehicles (NEVs).
The document does not specify, though in China, NEVs generally refer to pure electric vehicles, plug-in hybrids and fuel cell cars.
China previously set a goal of seeing NEVs contribute 25 percent of all new vehicle sales by 2025, but that goal was met ahead of schedule last year.
For the full year 2022, China sold 5.67 million new energy passenger vehicles at retail, contributing 27.6 percent of all passenger vehicle retail sales of 20.54 million units, according to the China Passenger Car Association (CPCA).
In April, China's retail sales of new energy passenger cars were 527,000 units, with a penetration rate of 32.3 percent.
By December 2025, NEVs will account for more than 80 percent of all new vehicle sales in China, Li Xiang, founder, chairman and CEO of Li Auto (NASDAQ: LI), said on April 24.
Ren has previously posted bullish comments on China's NEV industry, saying on December 31, 2021, that the NEV industry will be the most promising replacement for the real estate, heavy industry and chemical sectors as the most important engine of growth for China's economy.
The NEV industry was growing at a rate of several times, bringing a fast-growing penetration rate, while taking into account the market size of the industries associated with it, a large number of fuel vehicles will be replaced by NEVs in the next decade or longer, he said at the time.
China's Hainan to completely ban sales of ICE vehicles by 2030
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Continue reading Average age of vehicles on U.S. roads hits 12.5 years, another record
Average age of vehicles on U.S. roads hits 12.5 years, another record originally appeared on Autoblog on Mon, 15 May 2023 09:03:00 EDT. Please see our terms for use of feeds.
Permalink | Email this | CommentsTo date, Li Auto has 13 supercharging stations and aims to have more than 300 by the end of the year. | Li Auto US | Li Auto HK
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Li Auto (NASDAQ: LI) is continuing to build out its charging system, bringing a second batch of supercharging stations into operation.
The automaker's six 4C supercharging stations went live today, and they're all located in highway service areas in Hangzhou, Zhejiang, Jinan, Shandong and Dongguan, Guangdong, it said today on Weibo.
Li Auto opened the first seven 4C supercharging stations for trial operation on April 20. As of now, the company's supercharging stations reach 13.
All of Li Auto's currently available models are extended-range electric vehicles (EREVs), which are essentially plug-in hybrids.
The company unveiled its all-electric solution on April 18, the first day of the Shanghai auto show, which is based on an 800 V high-voltage platform capable of giving a battery electric vehicle (BEV) a 400 km range on a 10-minute charge.
By 2025, Li Auto's product array will include a super flagship model, five EREVs, and five BEVs, the company said.
Li Auto's first all-electric model will be the world's first to feature CATL's 4C Qilin Battery, it previously said.
C refers to the battery's charge multiplier, and 4C means that the pack could theoretically be fully charged in a quarter of an hour.
By the end of May, Li Auto's first 25 supercharging stations will open for trial operation and be available to all electric vehicle owners, it announced on April 18.
Each station will be equipped with three regular fast-charging piles and one 4C super-fast charging post, it said.
These 4C charging piles will have a maximum power of 480 kW and 2C charging piles will have a maximum power of 250 kW. 2C charging piles will allow vehicles to go from 20 percent to 80 percent in 30 minutes, the company said at the time.
By the end of this year, Li Auto will have built more than 300 supercharging stations along highways, it said.
By 2025, Li Auto will have 3,000 charging stations, covering 90 percent of China's highway miles and major cities, the company said.
Earlier today, NIO (NYSE: NIO) announced it had put eight new battery swap stations into operation, bringing the total to 1,403.
As of May 15, NIO also had 2,580 charging stations in China, offering 15,312 charging piles.
As of March 1, XPeng's (NYSE: XPEV) charging network included 1,948 charging stations, of which 1,018 were operated by the company, according to the latest information on its website.
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