China’s state-owned automobile manufacturer Changan has set a target to sell 3mn vehicles annually by 2025 and 4.5mn vehicles annually by 2030, according to reports.

 

The auto manufacturer highlighted that 35pc of its sales in 2025 and 60pc of its sales in 2030 will be New Energy Vehicles (NEVs), which include battery-electric, plug-in hybrid, and hydrogen fuel-cell vehicles.

 

Changan is developing EVs in collaboration with Huawei Technologies and battery maker CATL and plans to invest CNY150bn ($23.14bn) in the smart EV industry over the next five years. China is encouraging the rapid growth of EVs to combat pollution, with authorities expecting 20pc of overall sales in 2025 to be NEVs.

 

Sales outside China will account for 30pc of its business in 2030, the company added. Changan’s joint venture with Ford Motors sold around 2mn vehicles last year.

 

Changan’s domestic rival, Geely, has set an annual sale target of 3.65mn cars, while Great Wall aims to sell 4mn units annually by 2025.

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