New Energy Vehicle Industry Development Prospect Forecast

Development of new energy vehicles is a trend Volkswagen announced to stop the production of fuel cars in Europe by 2035 at the latest

 

Volkswagen plans to stop producing fuel cars in Europe by 2035

 

Germany's Volkswagen announced on the 27th that it intends to stop producing conventional energy vehicles with gasoline or diesel internal combustion engines in Europe by 2035 at the latest.

 

Volkswagen's director in charge of passenger car marketing, Klaus Zellmer, said in an interview with the Munich Courier that Volkswagen "will withdraw from the European internal combustion engine market from 2033 to 2035". Volkswagen will discontinue fuel vehicles "a little later" in the United States and China, and "a little longer" in South Africa and Africa.

 

Zellmer also said that Volkswagen will make all new production vehicles "carbon neutral" by 2050 at the latest.

 

Volkswagen's electric vehicle drive aims to become a global leader in electric vehicle production

 

 

In March this year, Volkswagen held a brand strategy conference online, at which it said it was accelerating its all-electric vehicle programme in a bid to become the world's most popular brand in sustainable mobility. The Volkswagen brand plans to more than double its market share of all-electric vehicles by 2030, with all-electric vehicle sales expected to account for more than 70 per cent of the brand's European car sales, well above its previous target of 35 per cent. In the U.S. and China, the Volkswagen brand plans to make pure EV sales account for more than 50 per cent of the brand's total sales by 2030, with the goal of beating rivals such as Tesla to become the global leader in EV production.

 

With environmental protection becoming the world's common pursuit, the momentum of new energy vehicles replacing fuel vehicles has become irreversible. According to the timetable released by various countries to ban the sale of fuel cars, fuel cars will be launched on stage within 20 years, and the new energy vehicle industry will usher in a high moment.

 

Rapid growth of new energy vehicles

 

In recent years, China's new energy vehicle market has developed rapidly. According to the statistics of the China Association of Automobile Manufacturers, in 2013, China's new energy vehicle production was 17,500, and sales were 17,600; in 2018, China's new energy vehicle production and sales reached 1,270,500 and 1,256,200 respectively, with a year-on-year growth of 60.01% and 61.67%; affected by the subsidies for new energy vehicles such as the sloping back of the subsidies, in 2019 China's new energy The production and sales of automobiles declined slightly compared with the previous year, reaching 1,240,200 and 1,206,000 respectively, down 2.24% and 4.00% year-on-year. the average annual compound growth rate of production and sales from 2013 to 2019 reached 103.48% and 102.29% respectively.

 

From January to April 2023, the production and sales of new energy vehicles both exceeded 900,000 units, reaching 950,000 and 932,000 units, respectively, with a year-on-year growth of 3.6 times and 4.5 times. It has been 10 consecutive months to set a new sales record for the month. It is predicted that in 2024, China's new energy vehicle market is expected to achieve overall production and sales of about 3 million vehicles.