Govt incentives remain the primary driver of the industry, rather than organic demand or products' competitiveness
Electric cars are widely believed to be the future of the automotive industry, but experts say even in the world's largest new energy car market they may need at least five years to be able to fend for themselves.
Statistics from the China Association of Automobile Manufacturers show that China sold 337,000 new energy vehicles in the first 10 months of 2016, which comprise electric cars, plug-in hybrids and fuel cell cars. This was an impressive 82.2 percent growth rate year-on-year.
The record-making sales volume came after China became the world's No 1 market for such cars in 2015, selling 330,000 in the year.
But, despite this rapid sales growth, Wang Binggang, a top expert on China's energy-saving and new energy vehicles program, said there is still a long way to go before the sector can stand on its own, and that the 2016-20 period will be crucial to its development.
I don't think sales globally would be as high if buying incentives were not in place