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China will lead in electric vehicle sector
- Sep 14, 2018 -

Electric vehicle has emerged in the auto industry these years as it is a typical case which takes advantages of new energy. UBS's latest global auto survey predicts that “one in five cars sold by 2025 will be electric, and estimates will only grow higher over time”. The rise of Road Legal Electric Vehicles  could attribute to the emission control and gas prohibition to release the pressure environment. Moreover, Tesla’s success has also influenced other automakers to improve their technologies in electric vehicle area.

China is considered as the biggest auto market with huge potential in electric vehicle area. Chinese government emphasizes on the new energy development and ban conventional gasoline and diesel-powered cars, and the government promulgates policy to support the growth of Road Legal Electric Vehicles area. According to statistics, “China made more than half of EV purchases in the third quarter in 2017”.

What’s more, according to World Energy Outlook 2017 from International Energy Agency (IEA), “China is forecast to capture more than 40 percent of the world EV market in 2040”, which means that China will take the lead in EV market in the future. A lot of experts have estimated that sales of global Road Legal Electric Vehicles market will exceed 60 million per year after 2040. Undoubtedly, automakers in China will try their best to meet the requirement of EV sales.