Is It The Era Of Electric World – China: the world’s largest electric vehicle market

China, the world’s largest carbon emitter, will achieve carbon neutrality by 2060, about 10 years later than other countries. However, in terms of transportation strategy, more aggressive policies are being implemented than in other countries. Through the ‘New Energy Automobile Industry Development Plan’, the country has decided to raise the proportion of new energy vehicles including EVs to 20% of total new car sales by 2025. After then, it plans to manufacture at least 20 million new energy vehicles out of 40 million new cars by expanding its production to 40% in 2030 and more than 50% in 2035. At the same time, it is expected to gradually reduce the proportion of internal combustion engines by banning the sale of new vehicles with internal combustion engines.

Infographic shows China's plan to supply new energy vehicles

China’s three major EV makers are also entering the market with their own unique strategies. Nio chose battery replacement, not charging. The replacement method refers to charging power by replacing a used battery with a previously charged battery at a station. Nio has built 300 Power Swap Stations, a battery replacement infrastructure, across China in the first half of this year, and plans to add 100 more by 2025. In addition, the number of stations in operation will be expanded to 15,000 in the future, and following the automaker’s signature models – eS8, eS6, and eC6 – the company plans to introduce four additional new models by 2022 to increase its market share.

Xiaofeng’s strength is its single-charge range. Last year, it introduced the sports sedan P7 with a maximum driving range of 706km on a single charge and announced that it will sell 50% electric vehicles in China and 50% overseas. BYD has succeeded in internalizing batteries and is increasing its market dominance. Through the vertical integration of production, more than 80% of electric vehicle parts are produced in-house to secure price competitiveness, and it is also producing semiconductors for its own automobiles. It plans to sell only electric vehicles in key markets by 2035 and worldwide from 2040.

 

Nio's 7-seater SUV eS8 photo on the left, and Xiao Feng's P7 photo on the right

Nio’s 7-seater SUV eS8 (left) and Xiaofeng’s luxury sedan P7 / Photos: Nio Newsroom (https://www.nio.com/news), Xiaofeng Newsroom (https://en.xiaopeng.co

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