EV sales rise by 80% to 77,000 units

Updated 2017-10-17 11:31:54 China Daily
Workers assemble electric cars at a state-of-the-art plant in Rugao, Jiangsu province.

Workers assemble electric cars at a state-of-the-art plant in Rugao, Jiangsu province.

Electric vehicle sales in China jumped by 80 percent last month to 77,000 models compared to the same period in 2016.

The China Association of Automobile Manufacturers reported that the figure was "beyond expectations" and was another step toward achieving this year's industry sales goal of 700,000 e-vehicles.

Development in EVs has helped China's automakers catch up with major global players, according to analysts and consultants.

Xu Haidong, assistant to the secretary general at CAAM, stressed that EV sales in the first three quarters of 398,000 was a good sign of an expanding market.

"The fourth quarter is usually the peak season for sales of EVs in China," Xu said. "We expect the annual sales goal of 700,000 EVs to be met."

Last month, consultancy McKinsey & Co reported that e-vehicles had become increasingly popular with Chinese motorists.

The research firm pointed to low energy costs, easier access to roads in major cities, such as Beijing and Shanghai, amid traffic restrictions, and environmental benefits.

"Making EVs requires a lower threshold of capital compared to manufacturing gasoline-powered automobile engines," said George Gillespie, CEO at HORIBA MIRA, an auto consultancy in the United Kingdom. "This enables more players to enter the market than we have seen before."

In China, the auto sector is still expanding, and offers opportunities for automobile manufacturers and consultancy service providers.

Even though gasoline-powered cars dominate the market, the switch to e-vehicles is gathering pace as Chinese EV makers increase quality and reliability.

Jeff Cai, general manager of auto product practices at J.D. Power China, a global market research company, said that certain Chinese automobile manufacturers have seen their reputations grow.

"Some have made the breakthrough when it comes to quality and this has been recognized by consumers," Cai added.

China's central government is already considering launching a timetable for ending sales of gasoline-powered private cars, according to industrial bodies.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 23 2017 00:20:54

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 23 2017 00:20:54

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 23 2017 00:20:54

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords