China's State Council Targets 30% NEV Stock Share by 2030, Pivoting to Fleet Replacement
The State Council issued the "15th Five-Year Carbon Peak Action Plan," setting a target for NEVs to reach 30% of total vehicle stock by 2030, with commercial NEVs at 25%. As of June 2026, NEVs accounted for only 13.19% of China's 371 million vehicle fleet, leaving a gap of roughly 17 percentage points. Fleet replacement of existing ICE vehicles will become the core decarbonization pathway.
2231 day ago
