ShortCut: Leading the Way
Insights into China’s burgeoning electric vehicle market
With over half of the world’s 1.2 million unit sales in 2017, China is by far the biggest market for electric vehicles globally. This market share has been heavily influenced by the Chinese government’s subsidies and tax reductions for EV suppliers and manufacturers, as well as users. China’s determination to push forward the use of EVs also reflects on the market penetration which is projected to rise to 6.7 per cent by 2020, and then to 20 per cent by 2025.
This growth presents a huge opportunity for businesses to enter a world-leading industry, but one made complex by impending new government policies that will transform the market for manufacturers and suppliers. This whitepaper ‘Leading the Way – An insight into China’s burgeoning electric vehicle market’ gives an overview of the Chinese EV market’s special characteristics that need consideration and outlines which main factors will make new entrants successful.