3/22/2015

EVs Could Claim 4% of Chinese Market in 5 Years

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Frost & Sullivan says Chinese government support for an electric-car market could boost sales of EVs and plug-in hybrids in the country to 1.2 million units per year by the end of the decade.

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Frost & Sullivan says Chinese government support for an electric-car market could boost sales of EVs and plug-in hybrids in the country to 1.2 million units per year by the end of the decade.

The surge would hike the share of China's car market held by electrified powertrains from 0.1% in 2013 to 4.2% by 2020. Over the same period, the proportion of the market represented by gasoline-fueled vehicles would drop from 99% to 95%. Frost & Sullivan predicts diesels won't expand their current 1% share.

But the report points out that an expected improvement in China's public transportation system, coupled with saturated car capacity in the country's largest cities, could slow the growth in demand for cars of any type.