SAIC chief: NEV sector needs more support

Systematic policy support for new energy vehicles after 2020 should be considered immediately by the government to promote the sustainable development of the industry in China, the world's largest and fastest developing market in this respect.

Chen Hong, a national lawmaker and Party secretary and chairman of SAIC Motor Corp Ltd, made the suggestion on the sidelines of the ongoing annual session of the national legislature.

He suggested that the current preferential policies, such as purchase tax and vehicle tax exemptions for new energy cars, should be extended to 2025 to avoid market challenges once all of the current supportive policies are withdrawn.