China will accelerate efforts to recycle new energy vehicle batteries in line with a five-year plan for developing circular economy unveiled on Wednesday, experts said.
According to the plan released by the National Development and Reform Commission, the top economic regulator, China will step up building the traceability management system for new energy vehicle or NEV batteries.
More measures will be taken to promote NEV manufacturers to set up recycling service networks by themselves or through cooperation with upstream and downstream industry players, the plan said.
Wang Binggang, honorary consultant of the China Society of Automotive Engineering and an academician of the International Eurasian Academy of Sciences, said: China s electric vehicle industry has entered a new stage of rapid growth with the battery industry initially taking shape. It is strategically important for the country to have stable battery resources and a sound battery recycle system.
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By Evelyn Cheng, CNBC •
Updated on July 5, 2021 at 10:42 pm
Evelyn Cheng | CNBC
BYD, backed by U.S.-billionaire Warren Buffett, sold fewer all-electric passenger cars in the first half of the year than the same period in 2019, before the coronavirus pandemic.
In June, the company sold more hybrid-powered passenger cars than all-electric ones.
Passenger car sales in China likely fell 14.9% in June from a year ago, according to the China Association of Automobile Manufacturers.
BEIJING Chinese automaker BYD sold fewer all-electric passenger cars in the first six months of this year than the same period in 2019, before the coronavirus pandemic.