China's new energy vehicle industry sees further expansion

Li Shufu, a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), is interviewed ahead of the opening of the first session of the 14th CPPCC National Committee at the Great Hall of the People in Beijing, capital of China, March 4, 2023. [Photo/Xinhua]

China's new energy vehicle industry is experiencing a steady drop in production costs and significant improvements in consumer experience, thanks to the continuous market expansion and advancements in technology, said Li Shufu, a member of the 14th National Committee of the Chinese People's Political Consultative Conference on Saturday.

Speaking ahead of the opening of the first session of the 14th CPPCC National Committee at the Great Hall of the People in Beijing, Li, also the founder and chairman of domestic automaker Zhejiang Geely Holding Group, said China's new energy vehicle industry has developed a green, energy-saving and low-carbon eco-chain system.

The recycling capacity of China's new energy vehicle industry has become increasingly efficient. For instance, its recycling rates of nickel and lithium have exceeded 95 percent, he said.

Since there are many new energy vehicles available in the market, with some becoming "popular sellers" each year, Li encouraged consumers to purchase domestic made new energy vehicles.