Dear MEL Topic Readers,
China's electric car market is booming but can it last?
China is now a very good environment for electric vehicle manufacturers to develop technology, supply chain, and infrastructure. Indeed, China’s new electric vehicle sales this year are predicted to be around six million, around a quarter of new car sales in the country and half of the world’s electric car sales. How could they have achieved such rapid growth in the EV market? The most effective measure to reduce fossil fuel vehicles is to ban their use or introduction. Beijing city government banned the introduction of fossil-powered taxis five years ago. Now, thousands of electric taxis are found in the capital city. They don’t charge batteries but instead exchange them with fully-charged ones at battery-swapping stations, which takes only a few minutes. Also, financial incentives like government subsidies, tax reductions, and cheaper license fees. In fact, the license fee for a fossil fuel vehicle is more expensive than the price of a car in some cities. There also are perks like free parking fees and permission to drive bus lanes. Furthermore, the price tag. In fact, because of the market size and prospects, there are electric vehicles cheap enough for low-budget buyers in not only cities but also rural villages. All in all, as China’s EV market is growing, the supply chain is developing, and the industry is becoming competitive, their EVs are now appearing in the global market.
Enjoy reading the article and learning about China’s growing market and industry.
https://www.bbc.com/news/business-62825830
China's electric car market is booming but can it last?
China is now a very good environment for electric vehicle manufacturers to develop technology, supply chain, and infrastructure. Indeed, China’s new electric vehicle sales this year are predicted to be around six million, around a quarter of new car sales in the country and half of the world’s electric car sales. How could they have achieved such rapid growth in the EV market? The most effective measure to reduce fossil fuel vehicles is to ban their use or introduction. Beijing city government banned the introduction of fossil-powered taxis five years ago. Now, thousands of electric taxis are found in the capital city. They don’t charge batteries but instead exchange them with fully-charged ones at battery-swapping stations, which takes only a few minutes. Also, financial incentives like government subsidies, tax reductions, and cheaper license fees. In fact, the license fee for a fossil fuel vehicle is more expensive than the price of a car in some cities. There also are perks like free parking fees and permission to drive bus lanes. Furthermore, the price tag. In fact, because of the market size and prospects, there are electric vehicles cheap enough for low-budget buyers in not only cities but also rural villages. All in all, as China’s EV market is growing, the supply chain is developing, and the industry is becoming competitive, their EVs are now appearing in the global market.
Enjoy reading the article and learning about China’s growing market and industry.
https://www.bbc.com/news/business-62825830
No comments:
Post a Comment