Electric & hybrid cars market in China to grow at 33.64% till 2024

reogma|Electric & hybrid cars market in China to grow at 33.64% till 2024

As of 2018, China accounted about 50% of the global electric car sales and sold near about 1.1 million electric cars. The electric car craze in China is driven by government policy rather than market economics

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Top Market Opportunities
  • Market Drivers
  • Industry Challenges
  • Pricing Trends
  • Regulatory Trends
  • Other Key Market Trends
  • Market Size and Forecast
  • Market Outlook
  • Distribution Chain Analysis
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References

Definition / Scope

EV (Electric Vehicle) or NEV (New Energy Vehicle) sector, includes vehicles that are partially or fully powered by electricity, such as battery electric vehicles (BEVs) and plug-in hybrids (PHEVs). These vehicles are alternative to the conventional fuel-powered vehicles that consume oil.

China is also set to increase its adoption of electric and hybrid vehicles mostly due to government support. With rapid urbanization, China is becoming responsible and aiming to reduce vehicle emissions. Further, the country also intends to reduce its oil imports and further driving sales of electric vehicles.

In 2017, China has set 2019 end as a deadline to achieve new target sales for electric plug-in and hybrid vehicles.It has passed a mandate on the sales of electric vehicles to represent atleast 10% of the auto manufacture sales of the country and further, projects the share to increase to 12% by 2020.

The China’s race for electric-cars has big geopolitical, economic, and environmental stakes. All eyes are on China as the biggest test of what happens to electric cars, the answers are with China. The electric cars could meaningfully displace conventional gasoline cars putting up huge repercussions for the oil industry and climate.

After Tesla’s launch, a number of auto-giants are flocking towards China to open up new line of product i.e. EV production whereas for China, its homegrown companies such as BJEV could dominate the overall global automobile market.

However, the EV market is still fledging and has the potential to thrive. Solely, China’s electric-vehicle market is forcing “the international automakers to accelerate their electric-vehicle strategies globally.

reogma|Electric & hybrid cars market in China to grow at 33.64% till 2024


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As of 2018, China accounted about 50% of the global electric car sales and sold near about 1.1 million electric cars. The electric car craze in China is driven by government policy rather than market economics Definition / Scope Market Overview Market Risks Top Market Opportunities Market Drivers Industry Challenges […]
reogma|Electric & hybrid cars market in China to grow at 33.64% till 2024reogma|Electric & hybrid cars market in China to grow at 33.64% till 2024

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