<article><p class="lead">Major Chinese automaker GAC is targeting a 20pc share of production and sales of new energy vehicles (NEV) of its total sales by the end of China's 14th five-year plan in 2021-25. </p><p>The firm's production and sales of all vehicles is on track to reach 3.5mn units/yr by the end of 2025. It will maintain independent innovation and open co-operation to achieve a sustainable development during the 14th five-year plan.</p><p>The Chinese government will take more measures to <a href="https://metals.argusmedia.com/newsandanalysis/article/2161354">boost automotive sales</a> as part of China's initiative to expand domestic demand during the global economic slowdown from the Covid-19 pandemic. </p><p>China's vehicle sales and production rose for a seventh consecutive month in October on sustained demand, supported by government policies and a seasonal pick-up in sales during the mid-autumn and National Day holidays earlier in the month.</p><p>China's state council at the beginning of November announced a development plan for the NEV industry in 2021-35, targeting a 20pc share of NEVs in the country's total vehicles sales by 2025.</p><p>Domestic NEV output totalled 914,000 during January-October, <a href="https://metals.argusmedia.com/newsandanalysis/article/2158745">down by 9.2pc</a> from a year earlier. Sales decreased by 7.1pc to 901,000 over the same period, according to data from China's automotive manufacturers association.</p><p>GAC produced 1.59mn vehicles in January-October, down by 1.4pc from a year earlier. The firm's joint venture with Japanese automaker Mitsubishi, <a href="https://metals.argusmedia.com/newsandanalysis/article/2122464">GAC Mitsubishi</a>, in July started building a NEV plant in south China's Changsha city, with production scheduled to begin in June 2021.</p></article>
