Regulators release auto industry stabilization plan
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On Friday, eight government agencies – led by the industry regulator (MIIT) and transport ministry (MoT) – released an auto industry growth stabilization plan.
The plan has set an annual auto sales target of 32.3 million units (+3% y/y) for 2025 – with NEVs sales to reach 15.5 million (+20% y/y).
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