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Another car company has announced that it will become an electric car brand in the future. According to foreign media reports, British luxury supercar brand Aston Martin announced that from 2026, only electric or hybrid vehicles will be sold, when the internal combustion engine products will be phased out. According to the Financial Times, Aston Martin CEO Lawrence Strol said in a conversation with the DMV: "by 2026, we will be fully electrified".

Aston Martin CEO Lawrence Strol, unlike Bentley and Rolls-Royce, which "hopes to sell only pure electric cars from 2030", Aston Martin has not yet set a date for the complete phase-out of internal combustion engines. "people still want the smell and noise of the internal combustion engine, and we will gradually achieve an all-electric transition, but if someone wants to use the internal combustion engine in 2028, it will not be impossible."

At present, a number of brands have announced full electrification. In the future, the market of new energy vehicles will gradually expand, and the major car companies will more clearly define the development goals of new energy vehicles and begin to increase the research and development of new energy vehicles. It is understood that the BMW Group plans to account for more than 20% of global sales of new energy vehicles by 2023, launch more than 25 new energy vehicles by 2023, and accumulate 7 million new energy vehicles worldwide by 2030. In 2021, the BMW Group plans to deliver more than 100000 pure electric vehicles worldwide.

The Jaguar brand will be transformed into a pure electric car brand in 2025. According to the previous plan, Jaguar will gradually introduce electric vehicles to replace fuel vehicles, in which Jaguar XJ replacement models will be electric, while a new entry-level pure electric will be developed to replace Jaguar Xe. By 2023, Jaguar XE and XF models will also be replaced by new pure electric vehicles, and E-PACE and F-PACE fuel pumps will be launched on the stage of history.

Volvo announced that it would be fully electric by 2025, with pure electric models accounting for 50 per cent of total sales, selling only pure electric vehicles by 2030 and all models online by 2040. It is understood that the second pure electric SUV C40 Recharge based on XC40 will be launched in the Chinese market in 2022. As the first model of the new strategic plan, the new car will be sold online.

Even Toyota Motor Group, which has never been interested in electric cars, held a press conference in December 2021, announcing that Toyota and Lexus will enter the pure electric camp. At the press conference, Lexus said it would launch corresponding levels of electric cars in all market segments by 2030, fully electric in Europe, North America and China by 2030, and completely abandon fuel systems around 2035. Toyota and Lexus, which plan to sell 3.5 million electric vehicles, including all-electric and fuel-cell vehicles, by 2030 have increased investment in battery development from Y500 billion to Y2,000bn.

Of course, in addition to traditional automakers, more and more companies are entering the new energy vehicle industry. On January 11, 2021, Baidu and Geely Holdings announced that they would form a smart car company. Baidu said that the newly formed Baidu Automobile Company will target the passenger car market, and Baidu will enter the automobile industry as a vehicle manufacturer, allowing users to buy more advanced smart electric vehicles. On March 30, 2021, Xiaomi Group announced at a press conference that it had officially entered the field of car manufacturing and proposed to set up a wholly-owned subsidiary responsible for the smart electric vehicle business, with an initial investment of 10 billion yuan and an estimated investment of US $10 billion in the next 10 years. Lei Jun, CEO of Xiaomi Group, will also serve as CEO of Smart Electric vehicle business. Foxconn, the parent company of Foxconn, held a Science and Technology Day in Taiwan on October 18, 2021, officially launching the pure electric car brand Foxtron and bringing three new cars, namely, the all-electric car Model C, the all-electric SUV Model E and the electric bus Model T. On December 15, 2021, Niu Innovation Energy, founded by Li Yinan, launched its new car brand "NIUTRON" and announced its Chinese name "self-Travel Home". The first product from the traveler NV is located in the medium and large high-end SUV and is expected to launch and accept reservations in the first half of 2022. At the 2022CES launch, Sony Chairman, President and CEO Kenichiro Yoshida announced that Sony Group will set up a new division, Sony Mobile, which is expected to be set up this spring and will focus on the commercialization of electric vehicles, a move that means Sony will officially enter the electric car market.

Whether traditional carmakers or technology companies build cars across borders, the large-scale layout of new energy vehicles is optimistic about the future development of the Chinese market. In October 2021, the Ministry of Industry and Information Technology issued a letter on soliciting opinions on the Development Plan of New Energy vehicle Industry (2021-2035) (hereinafter referred to as "the Plan"). In the development vision, the Plan points out that by 2025, the competitiveness of new energy vehicles will be significantly improved, accounting for 20% of the total car sales in that year. By 2030, new energy vehicles will form a competitive advantage in the market, accounting for 40% of the total car sales in that year.

According to the current development and planning of major car companies, it is not difficult for the domestic new energy vehicle sales target to reach 40% in 2030. Take BYD as an example, sales of new energy passenger vehicles in 2021 were 593700, an increase of 231.60% over the same period last year. In January 2022, sales of new energy passenger vehicles were 92900, up 367.6% from the same period last year, accounting for 97.4% of BYD's total sales. In June 2021, Great Wall announced its long-term development plan to achieve its annual global sales target of 4 million vehicles by 2025, 80 per cent of which will be new energy vehicles. Ideal car CEO Li Hewang has threatened to account for 25% of the new energy vehicle market in 2025, and the ideal car sales target is to reach 1.6 million units in 2025 based on a forecast of 8 million vehicles.

At present, it is still unknown whether the above car companies can achieve the set development goals, but at least to some extent reflects their vision for the development of the electric vehicle market, which will greatly promote the accelerated development of the pure electric vehicle market.

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