China Electric Vehicle Market Top Key Players - BYD Company Limited, SAIC, BAIC Group, JAC, NIO, Geely

China electric vehicle market is estimated at $49 Billion in 2020. The Chinese EV battery market alone is estimated at $10.4 Billion. To know more about it read our report EV Battery Market in China In 2020, SAIC-GM(2nd biggest EV player in China) will launched 10 new models, including 2 BEVs. By 2025, SAIC-GM will invest $4.5 Billion to launch more than 9 new energy models. BAIC BJEV has developed three EV platforms, BE11, BE22 and BE22, which will underpin more than 30 vehicles by 2025.

China is world`s biggest automotive market, by volume. In 2020, the sales of automobiles were 25.3 Million units a drop of 1.9% mainly due to Covid. This was the third year with negative YoY growth, respectively.

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CHINA ELECTRIC VEHICLE MARKET DYNAMICS

As the EV market slowed down in H2-2019, due to subsidy cut, finally dragging down full year- 2019 EV volumes, the EV startups were most affected. For example, WEY had set itself a target of 100,000 units EV sales but ended up selling just 17% of that.

THE SUBSIDY WITHDRAWAL EFFECT ON CHINA ELECTRIC VEHICLE MARKET

Starting 12th June 2019, when new subsidy rules came into effect, sales of A00 compact EVs dropped sharply pulling down the overall EV volumes by a steep ~50% in July. It was only post Q3 2019 when almost all car companies upgraded their compact EVs to >250km range that the EV sales started rebounding. In Nov 2019, sales grew ~20% (MOM) and in December it grew by ~70% (MOM).

CHINA ELECTRIC VEHICLE BATTERY MARKET

China comprised 50% of global EV sales volume in 2016, 2017, 2018 and 2019 and more than 70% of them were BEVs in 2016, 2017, 2018.In 2020, it decreased to 40% of the global share. In 2020, the BEV share went up to 78%. In the commercial vehicle segment, buses comprised 81% of 100k units electric commercial vehicle market, with average battery capacity of 233kWh, pushing China`s installed power battery capacity volume to 84GWh in 2020

COMPETITIVE LANDSCAPE

The Chinese major, SAIC has plans to start EV manufacturing in India and Thailand. Since SAIC is well positioned to absorb the higher cost and low margin of EVs presently, we believe it can boost EV uptake in both India and ASEAN region. BYD(18% market share in EV passenger cars) declined by 4% YOY to 219,000 units in 2019. It had 9% share of Electric bus market in China.

COMPANY PROFILES
ELECTRIC CAR MANUFACTURERS
BYD Company Limited
SAIC
BAIC Group
JAC
NIO
Geely

Read More Information: https://mobilityforesights.com/product/china-electric-vehicle-market/

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