China Aims For 70% Plugin Vehicle Sales By 2030 — Hit 61% In August

China has set a new goal in its latest five-year plan: 70% of new passenger car sales should be plugin vehicles (battery electric or plug-in hybrid) by 2030. Commercial vehicles have a separate target of 40%. For context, plugin vehicles already made up 61% of China's car sales last month, so the government's own target is arguably modest compared to where the market already stands.

Beyond the sales goal, the plan also addresses how the industry grows. It calls for tighter oversight of battery manufacturing capacity, stricter rules for new electric vehicle makers entering the market, and more mergers among automakers to cut down on inefficient production. The plan also pushes for stronger enforcement against unfair pricing and improper local subsidies, plus better tracking of industry data. Other areas covered include automotive computer chips, battery safety and charging speed, cold-weather battery performance, vehicle-to-grid technology (letting parked EVs feed power back into the electric grid), and heavy-duty electric trucks.

None of this changes anything for homeowners right now. It is a look at how the world's largest car market plans to keep expanding electric vehicle sales and manage the industry behind it. If you already have or are considering an EV and home charging setup, it is a sign that battery technology and vehicle-to-grid features are likely to keep improving as manufacturers compete to meet these kinds of targets.