ginforce
Posts: 89
Joined: Wed Oct 26, 2016 11:58 pm

Electric car market yet to mature

Tue Dec 13, 2016 12:36 am

http://www.chinadaily.com.cn/bizchina/m ... 640040.htm

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

jimmyjon
Posts: 77
Joined: Tue Aug 09, 2016 8:17 pm

Re: Electric car market yet to mature

Fri Dec 16, 2016 4:32 am

This is obvious as it is just starting to infiltrate mainstream

sam
Posts: 131
Joined: Sat Jul 09, 2016 1:39 pm

Re: Electric car market yet to mature

Fri Dec 16, 2016 5:18 am

jimmyjon wrote:This is obvious as it is just starting to infiltrate mainstream


Yeah it's still in its juvenile stage

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