CHINA’S LEADERSHIP IN NEW ENERGY VEHICLES: STRATEGIES AND GLOBAL IMPACT

This article examines the transformative effect of China’s New Energy Vehicle (NEV) initiatives, highlighting its importance in global automotive innovation and environmental sustainability. While the term NEV is exclusively associated with China, it also encompasses electric vehicles, plug-in hybrids, and hydrogen fuel cells, as a result of the country’s strategic push to reduce pollution and greenhouse gas emissions. China’s dominance in the NEV sector is attributed to its policies, which include substantial subsidies and tax benefits, as well as a rapidly expanding domestic market and robust infrastructure investments. The article examines the way these policies have facilitated domestic production, pushed technological advancements, and improved production efficiency. It emphasizes China’s 14th Five-Year Plan, which aims to increase the market share of NEVs and develop infrastructure while aiming for carbon neutrality by 2060. The analysis suggests that other nations could be benefited by adopting similar strategies, which include government support, R&D investment, and infrastructure expansion, to create their own NEV industries. The issue of integrating foreign technology and developing local expertise is also addressed, along with potential challenges and solutions. Keywords: new energy vehicles, charging infrastructure, battery technology, sustainable transportation, market expansion, international partnerships.