Shandong province is propelling its new energy vehicle sector into a dynamic phase, transitioning from preparation to explosive growth. 

The province recently unveiled an action plan for the high-quality development of the NEV industry. The plan outlines an initiative aiming to achieve a substantial industry scale of 500 billion yuan ($70.31 billion) by 2025.

The plan enumerates current challenges in the NEV industry, positioning the province to capitalize on the development opportunities. 

The province is emphasizing the expansion of key enterprises, focusing on five leading passenger and commercial vehicle-oriented companies each, six core components and seven areas of supporting products.

The ambitious goals include reaching a production volume of around one million units and an overall industry scale of approximately 150 billion yuan by 2025. Shandong also emphasizes ten major actions, including industry leadership, supporting capabilities, and green innovation.

In parallel, the province has made significant strides in charging infrastructure, boasting 541,000 units by the end of 2023, a 152-percent surge compared to 2022. With 354 charging stations covering highways, Shandong ensures a comprehensive accessible charging network.

This comprehensive plan underscores Shandong's commitment to positioning itself as a national powerhouse in the NEV sector, fostering innovation, green practices, and robust infrastructure. As the industry shifts gears, the province is embracing a future where new energy vehicles play a pivotal role in its economic landscape.