Russian media pays attention to China's new developments: The era of government-led support for electric vehicles is about to end!

On October 29, the Russian media "Oil Capital Network" published an article.

Chinese electric vehicles have been excluded from the list of strategic industries in the five-year development plan for 2026-2030.

This is the first such adjustment in over a decade, due to the problem of oversupply in this industry.

The new energy vehicle (NEV) category includes pure electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles.

This category has been included in the strategic emerging industries in the past three five-year plans, aiming to enhance industrial competitiveness.

However, the "14th Five-Year Plan" released by Xinhua News Agency on Tuesday lists quantum technology, biomanufacturing, hydrogen energy, and nuclear fusion as new engines for economic growth, while the electric vehicle industry has been excluded from the key development areas.

In recent years, China has become the world's largest automobile market.

However, Reuters pointed out that the industry is facing problems such as overcapacity, ongoing price wars, and excessive competition.

In short, supply has started to greatly exceed demand. The number of cars produced by factories exceeds the number that people are willing to buy.

This has led to a prolonged price war among dozens of brands, as they desperately compete for consumer attention.

The domestic market is already oversaturated, and exports have also encountered difficulties due to trade disputes with the West.

Since 2009, when China began to vigorously develop electric vehicles, more and more cities such as Hefei and Xi'an, which were traditionally not transportation hubs, have emerged as important participants in this field.

Now almost every city is vying for a place in the "electricization wave".

The complete version of the 15th Five-Year Plan will be published in March 2026, but it is already clear that the era of rapid growth in China's electric vehicle industry is about to end.

Original: www.toutiao.com/article/1847354546294784/

Statement: This article represents the views of the author.