Daily Management Review

China to Become the World's Largest Market for Electric Vehicles


12/07/2015


According to the Association of Chinese automakers‘ forecasts, sales of electric cars in China will amount to 220-250 thousand this year. This will allow the Chinese market of electric vehicles to become the largest in the world, surpassing the United States, where 180 thousand EVs will be sold this year.



Yesterday, the agency "Xinhua" referring to the China Association of Automobile Manufacturers (CAAM) said that the country will have sold 220-250 thousand EVs by the end of this year. All over the world, the number accounts for 600 thousand electric cars, with 180 th. in the United States. Thus, projecta CAAM, China will become the world's largest market for electric vehicles, ahead of the United States. Deputy secretary-general of CAAM Xu Yanhua said that China has indeed reached a good pace in the production and sale of electric vehicles, but "quality rather than quantity should be priority for sustainable development of the industry." According to Mr. Xu, the authorities should pay special attention to safety and reliability of batteries in such vehicles. With support from the government in the form of tax breaks and subsidies, production of electric cars in China is booming the last two years. According to CAAM, sales of electric vehicles in China totaled 171,145 units only for the first ten months of 2015, which is 2.9 times more than the same period last year.

Recently, against the backdrop of the growing popularity of American cars Tesla, worldwide competition in production of electric vehicles has increased markedly. At the end of last week, Porsche officially announced allocation of $ 1 billion for the program on production of electric vehicles, a sample of which was presented in early autumn at the Frankfurt Motor Show. Also last week, the French government announced plans to build an electric vehicle, affordable for everyone. According to the Minister of Environment and Energy, Segolene Royal, the maximum price of such machines cannot be within the range of $ 5300-7500. However, the French car will not be the cheapest electric car in the world - India's Tata Motors produces electric version of its Tata Nano for $ 2,500. The Indian media noted, although, that this car was not very appreciated by the local consumers.

 






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