Explore China Electric Car Market by Type (Battery, Hybrid, Plug-in Hybrid), by Technology (Sealed Lead Acid, Li-ion, Ni-MH), by Voltage (Low, Medium, High)

The Chinese electric car industry is benefited by strong drivers such as government support and rising income levels. Rising per capita income is encouraging people to own private vehicles driving the electric car market in the country. Increasing aspirations among the people to own cars can be met in a sustainable way by electric cars. Moreover, the government has plans to support electric cars to reduce its dependence on the imported fossil fuel.

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One of the major advantage that China has over other countries is a developed electric battery manufacturing. There are close to 150 electric vehicle battery manufacturers in China. As battery is the key component of an electric car, a sufficient and developed battery manufacturing capacity in the country would reduce the dependence on imports and sustain the prices of electric cars.

Despite the above drivers, the electric cars account for a negligible share in total car sales in the country. Lack of infrastructure in the form of charging stations is the biggest challenge affecting the sales of electric cars in China. The growth of electric cars would be dependent on penetration of charging stations.

The subsidy being offered for the electric vehicles in China could be close to $7,000 depending upon the battery size. The subsidy is received by the company based on the electric car sales. Many companies put sub-standard parts in the car to receive the subsidy. Moreover, companies also inflated their car sales figures to receive the subsidy.

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The China electric car market is highly protected with considerable trade restrictions for the foreign players. Hence, domestic players account for majority of electric car sales in the country, with most foreign players restricted to selling premium hybrid cars. Many of the domestic players are based in south China. The key players in the market include Beijing Auto BAIC Motor Corporation, Dongfen, Changan, SAIC Motor Corporation and FAW Group Corporation.

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This release was published on openPR.