Experts say China should not overestimate “new-energy” vehicles

As China’s automakers accelerate development of hybrid and electric vehicles, experts and industry insiders say more attention should be paid to researching energy-saving technologies for conventional vehicles. About a dozen automakers, including Zhongxing, BYD, Chery, Lifan, Geely and research institutes are developing “new-energy” vehicle technologies, but industry insiders say China should not overestimate the new cars as the market and technologies are immature. “The market share of new-energy automobiles will not exceed 10% by 2020. Most cars will still rely on gasoline,” said Zhang Xiaoyu, president of the Society of Automotive Engineers of China. “Shifting from conventional energy to new energy will take a very long time in the automobile industry. We should never neglect research into energy-saving technologies for conventionally powered vehicles.” China’s auto sales stood at 6.099 million units during the first half, up 17.69% year-on-year, according to the China Association of Automobile Manufacturers. (July 22, 2009)