Beijing -- China will aim to have the capacity to make 30m cars a year by 2020, according to an industry association, a figure that is lower than analysts' estimates of its current annual production capacity, according to news agency Reuters.
The capacity target was announced in an advance copy of a speech that vice-secretary Shi Jianhua of the China Association of Automobile Manufacturers (CAAM) is due to make on Friday, 16 October, predicting what targets the Communist Party will set out for the car industry when it meets later this month to decide the country's economic blueprint for 2016 to 2020.
The speech does not specify whether the 30m refers to passenger cars or the overall automotive market, but consultancy IHS estimates China will produce 23.5m passenger and light commercial vehicles this year and already has capacity to make 36m annually.
Shi predicts that the country's next five-year plan will aim for an annual production capacity of 2m units for plug-in hybrids and battery-electric vehicles by 2020, and to have already produced 5m vehicles, the speech says.
It also aims to lift the market share of Chinese-brand vehicles to more than 60%, from roughly 41% of the passenger car market so far this year, to create five globally competitive automakers.
China's government is also aiming to boost exports to 3m compared to this year's goal of 860,000.