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EVs to account for 15 percent of China auto market by 2020

Hybrid and pure electric vehicle sales will account for over 15 percent of the Chinese auto market and 7 to 12 percent of the global auto market by 2020, the Securities Times reported Wednesday.

Cheng Qingquan, chairman with the World Electric Vehicle Association, said development strategy, financial support and technology innovation are key to the industrialization of new energy vehicles.

Auto and parts manufacturers should coordinate to build products with good performance and low prices, Chen added.

 

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