Reports says China will lead EV development

Reports says China will lead EV development

A new report says China will be the major driver of the development of electric vehicles over the next five years.

Reports says China will lead EV developmentThe Electric Vehicle Market in China 2016-2020 report says the electric vehicle market in China is forecast to grow by more than 30% during the period 2016-2020, the rapid growth being primarily fuelled by government subsidies.

The report saying that the monetary subsidies on offer from the Chinese Government are making EVs competitively priced there.

Factoring in the huge population and the rapid increases in car ownership among that population, the report says this has made China one of the most attractive markets for global automakers.

Interestingly, the report says it will be Chinese car brands that will most likely capture most of those increases in EV sales in China, including brands familiar to Australian car buyers; Geely, Chery and Great Wall Motors.

While the major challenge that will face all car manufacturers, according to the report, is winning over customers concerned by the range of travel offered by EVs.

You can read the full report here.

About the author

Kate Richards

Kate has always had an interest in writing and cars and now as a key member of the Behind the Wheel website team she gets to spend her days consumed by both. Aside from being a contributor and an editor at Behind the Wheel, Kate enjoys driving her Lancer EVO and walking her beloved dog, Max!

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