China has omitted electric vehicles from its list of strategic industries in its five-year development plan for 2026-2030, marking their first exclusion in more than a decade, as the sector grapples with oversupply challenges, reports Reuters. New energy vehicles (NEVs)—a category comprising EVs, plug-in hybrids and fuel cell vehicles—were included as strategic emerging industries in the previous three five-year plans, aimed at sharpening industrial competitiveness.
The central and local governments had provided billions of dollars in subsidies, helping China achieve a leading position in the global EV market and industry chain.
However, the 15th five-year plan, published by the official Xinhua News Agency on Tuesday, prioritises quantum technology, bio-manufacturing, hydrogen energy, and nuclear fusion as new drivers of economic growth, omitting NEVs from the list. Automobiles were mentioned alongside housing, with the government urging the removal of purchase restrictions to boost consumption.