Tianjin boosts new energy vehicle development

TIANJIN - New energy vehicles (NEVs) will see more development in North China's Tianjin municipality in 2018, an official said Thursday.

Three major NEV production lines will be completed and put into operation this year in Binhai New Area this year, said Yang Maorong, head of the area.

"The production lines will churn out more than 30,000 NEVs annually," Yang said.

The production lines drew a combined investment of 13.6 billion yuan ($2.14 billion).

The new area is also home to companies specializing in NEV batteries, electric motors and controlling systems. By 2020, the NEV industry value in Binhai New Area will reach 100 billion yuan.