A new energy vehicle is an umbrella term used primarily in the Chinese automotive market to describe cars that run entirely or predominantly on alternative energy. The classification includes battery electric vehicles, plug-in hybrids, and hydrogen fuel cell vehicles. Vehicles in this category benefit from government subsidies, tax exemptions, and preferential license plate allocations in restricted cities.
We're shifting our production lines in Shanghai to focus exclusively on new energy vehicle platforms.
Also heard as
- NEV
Related terms
EV
An electric vehicle uses one or more electric motors for propulsion instead of an internal combustion engine.
PHEV
A plug-in hybrid electric vehicle combines a combustion engine with a grid-chargeable battery pack.
Hybridization
The process of adding electric propulsion to traditional internal combustion vehicle platforms.