The Review on Development of New Energy Vehicles in China: Characteristics, Factors and Impacts

Abstract

Amidst the mounting environmental challenges posed by energy supply, the ascendancy of hybrid and electric vehicles (EVs) as important instruments capable of curbing greenhouse gas emissions and energy consumption has garnered attention. However, existing reviews largely predate the surge in new energy vehicle sales, and prevailing studies often narrow their focus, yielding gaps in the panoramic comprehension. Moreover, the remarkable surge of the new energy vehicle industry in China, galvanized by robust governmental support and technological strides, remains a relatively untrodden path in scholarly exploration. This article undertakes a comprehensive dissection encompassing the categorization, historical evolution, policy ramifications, and ecological reverberations of new energy vehicles within China. Notably, this work illuminates the interdependent nexus of governmental backing, technological ingenuity, and market forces, underscoring new energy vehicles' substantial contributions to abating carbon emissions and stewarding resource reservoirs. Employing predictive modeling, this study augments understanding by proffering insights into forthcoming ownership trends of new energy vehicles. In sum, this review bridges existing gaps in research, furnishing an all-encompassing vista of the new energy vehicle sector in China and its transformative power.