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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":700,"relatedVideos":701},112473746085482,"f244a093-df2c-4623-9a7b-fd0f5385261f","China doubles down on electric vehicle ambitions","china-doubles-down-on-electric-vehicle-ambitions","article/china-doubles-down-on-electric-vehicle-ambitions",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":678,"featured":50,"reporter":679,"_editable":683,"component":684,"seo_title":543,"categories":685,"visibility":692,"author_company":49,"featured_image":693,"seo_description":678,"author_full_name":49,"author_job_title":49,"formattedDate":698,"formattedArticleDate":699},"088db45c-fd5f-4405-a046-7646cd0714c9","2020-10-26 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":564,"content":565},"doc",[566,573,578,583,590,595,610,615,620,625,630,635,640,645,650,663,668,673],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"China has outlined new policies to bolster its NEV (new energy vehicle) industry at both a regional and national level as electric vehicle sales in the country showed year-on-year (YoY) positive growth in each month of Q3.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"In July China had NEV sales of 98,000, up 19% compared with last year, and this recovery continued in August with sales of 109,000, up 26%, and sales of 138,000 in September, up 68%. The Q3 numbers represent the first positive year-on-year numbers coming from China’s NEV industry for over 12 months.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"text":582,"type":572},"These efforts have supported the Q3 NEV sales recovery in China, which is expected to continue through the rest of the year and will contribute to global battery demand increasing to 196GWh in 2020 according to data from Benchmark’s Lithium ion Battery database.",{"type":584,"attrs":585,"content":587},"heading",{"level":586,"textAlign":49},4,[588],{"text":589,"type":572},"Regional and rural market push",{"type":567,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":572},"To date, central government support has been key to much of the growth of China’s electric vehicle and battery industries. But it is now expecting regional governments to take a more active role in efforts to support electric vehicle demand growth.",{"type":567,"attrs":596,"content":597},{"textAlign":49},[598,600,608],{"text":599,"type":572},"China’s regional focus was outlined at the start of Q3 as China’s Ministry of Industry and Information Technology (MIIT) began a",{"text":601,"type":572,"marks":602}," push for local governments to establish their own policies",[603],{"type":604,"attrs":605},"link",{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/article/china-to-promote-electric-vehicled-to-rural-markets-as-it-looks-for-further-to-boost-electric-vehicle-industry","url",{"text":609,"type":572},", as it looked to boost EV uptake in rural areas and reduce the reliance on the central government’s subsidies.",{"type":567,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":572},"Since then local governments across the country have established new policies and subsidy programmes, with Chongqing and Sichuan outlining new efforts in October.",{"type":567,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":572},"The Chongqing government is asking OEMs to discount new models, for which it will reimburse 25% of the discounted selling price to the OEM. It is also encouraging the uptake of electric vehicles (EV) in public buses, and in its logistics sectors, airport and port vehicles and government vehicles.",{"type":567,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":572},"Nearby, the Sichuan Province government is targeting all new or upgraded buses in the region to be NEVs by 2022. It is also promoting the use of NEVs across public transport and government vehicles servicing the region’s infrastructure in a similar vein to Chongqing.",{"type":584,"attrs":626,"content":627},{"level":586,"textAlign":49},[628],{"text":629,"type":572},"Preparation for post-subsidy China",{"type":567,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":572},"While its regional push has been important to China’s NEV sales recovery in H2 2020, the central government continues to outline new policies as it prepares the industry for a future without subsidies. As part of these efforts, China’s State Council has this month approved its New Energy Vehicle Industry Development plan, to guide the next steps of the industry’s development.",{"type":567,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":572},"The plan looks to establish a national framework for the NEV market and increase the market’s competitiveness. It will also focus on technological improvements and looks to establish further NEV policies for public services. As part of the plan the state council also set a new target for NEVs to account for 20% of total vehicle sales by 2025.",{"type":567,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":572},"To date, the Chinese government has undertaken massive support of the NEV industry’s value chain, having spent in excess of 2 trillion CNY (US$300 billion) to date according to its latest announcement.",{"type":567,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":572},"Elsewhere in government, China’s MIIT announced further policies on promoting electrification for public-use vehicles, with particular emphasis on vehicles used in industry, such as city construction and for the mining industry. It has also broadened its scope to support electrification in other niche areas such as electric forklifts, and machines and vehicles used in ports.",{"type":567,"attrs":651,"content":652},{"textAlign":49},[653,655,661],{"text":654,"type":572},"Battery demand is not isolated to electric vehicles in China and this month the MIIT also approved a policy to support the use of LFP (lithium iron phosphate) batteries at scale for cellular base stations and develop industry standards as part of the country’s efforts to build out its 5G infrastructure. ",{"text":656,"type":572,"marks":657},"China’s 5G buildout",[658],{"type":604,"attrs":659},{"href":660,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/article/5g-technology-to-expand-lithium-ions-battery-empire",{"text":662,"type":572}," has already been a major boost to LFP demand in 2020, as it is the preferred cathode technology of choice in energy storage systems (ESS) used in base stations.",{"type":567,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":572},"China’s battery production capabilities have expanded rapidly, with data from Benchmark’s Lithium ion Battery Database showing output climbing from 42.7GWh in 2015 to 170GWh in 2020, which will represent over 60% of the world’s supply.",{"type":567,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":572},"Its NEV subsidy programme has been integral to the growth of its battery and electric vehicle industries, but as national-level subsidies are removed it will hope that its policy efforts and regional focus, along with surging global demand, will help to sustain future growth.",{"type":567,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":572},"With so much of the lithium ion value chain located on the Chinese mainland, the efforts to support Chinese domestic demand growth will be key for its industry its upward trajectory.","China has outlined new policies to bolster its NEV (new energy vehicle) industry at both a regional and national level as electric vehicle sales in the country showed year-on-year (YoY) positive growth in each month of Q3. In July China had NEV sales of 98,000, up 19% compared with last year, and this recovery continued […]",[680],{"slug":555,"name":556,"content":681},{"job_title":558,"image":682,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"088db45c-fd5f-4405-a046-7646cd0714c9\", \"id\": \"\"}-->","article",[686,689],{"slug":687,"name":688},"batteries","Batteries",{"slug":690,"name":691},"ev","EV","private",{"id":49,"alt":694,"name":694,"focus":694,"title":694,"source":694,"filename":695,"copyright":694,"fieldtype":696,"meta_data":697,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/0c19c5e351/bm-china-nev-bus.jpg","asset",{"alt":694,"title":694,"source":694,"copyright":694},"Oct 26, 2020","26th October 2020",[],[],1780670088054]