Impact Lab


Subscribe Now to Our Free Email Newsletter
August 11th, 2016 at 7:48 am

Chinese Electric Car Sales Up 162% So Far This Year

forbes-ev-1

The spectacular growth of the New Energy Vehicle (NEV) market in China continues; state media reports that sales were up a massive 162% to 170,000 units in the first half of the year. NEVs include pure-electric vehicles (EV) and plug-in hybrid electric vehicles (PHEV).

The 170,000 NEVs were divided by 134,000 EVs and 36,000 PHEVs.

IL-Header-Communicating-with-the-Future

The new numbers confirm China’s position as the largest market worldwide for NEVs. The United States follows at a respectable distance in second place with sales of 64,000 EVs and PHEVs.

One of the main reasons for the stellar growth of NEV sales in China are the very generous subsidies by the central and local governments. The maximum subsidy by the central government is about 45,000 yuan or $6,740. The subsidies on local level differ per city but the maximum is about 50,000 yuan or $7,500, adding up to a total subsidy of  $14,240.

On top of that many cities offer other incentives, such as free license plates (getting a plate for a petrol-powered car can cost up to $12,000 in a city like Shanghai), and free parking places.

The government is also, and finally, getting serious about adding public charging stations, something it had neglected until the beginning of this year.

And now they are suddenly everywhere, including in my area in the far east of Beijing where State Grid, China’s state-owned electricity company, created a six-berth fast-charger station out of nothing. The numbers confirm the sudden rise: in late June there were 85,000 public charging stations in China, up 65% compared to the end of 2015.

Image credit: Tycho de Feijter
Article via: Forbes

IL-Header-Communicating-with-the-Future

Comments are closed.

Coworking 6