The Great Potential Market in China for Electric Automobiles

Friday, 04 March 2016 10:59

The summit for the enterprise involving in the China new energy car was held in Beijing last December. The Chinese officer showed the confidence that China has become the largest electric automobile in Year 2015, for both sales turnover as well as the amount for its manufacturing. The sales turnover in Year 2015 was the twenty times of Year 2011 and with the annual increasing rate around 300%-400%. The main reason for great increasing is China government’s great eager to solve the haze issue and social and economic crisis due to its relying on the import of petroleum. At the same time, there were less local famous brand among the automobile industry and it caused the proportion for the domestic car taking as only 7% whilst the imported car as 25% and joint-venture car as 68% in the China market. Currently, the Chinese government still gives the subsidy and supporting policies to the local electric car automobile brand but it will be decreased since Year 2017 and to be totally cancelled in Year 2021.The electric automobile industry also attracted the investment from local famous IT companies which was introduced their new technology as well as the capital.


Dongjin comments: although it has great difficulty for foreign investors to involve in the manufacturing of the whole car, but there is still great potential market to involving in the design, test, technology support, software development as well as the supplying of the parts.


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