US: EV sales in China will fall far short of government targets - research
By Graeme Roberts | 21 November 2012
China has established a goal of making China the world leader in plug-in electric vehicle (PEV) sales with a target of manufacturing 500,000 PEVs per year by 2015. According to a recent report from Pike Research, annual sales of PEVs will reach only 45,000 units by 2015, increasing to 152,000 vehicles in 2017. That figure represents less than 1% of the total light duty vehicle market in China.
"As of early 2012, only a few domestically produced EV models were available to China's general public," said research director John Gartner. "Indeed, evidence is emerging to suggest that Chinese EV manufacturers have yet to develop proven technology that can propel the market. Even though it is unlikely to reach its targets, however, China's EV ambitions will provide a huge boost to electric car development worldwide in the long run."
Since 2003, Chinese automakers have released or announced the production of 40 battery electric vehicles and 31 plug-in hybrid electric vehicles that will be on the market by 2015. Chinese vehicle manufacturers such as BYD, SAIC, and Foton all delivered hybrids or PEVs to the market by 2011. Among foreign automakers, Japanese and American manufacturers - including General Motors, Honda, Nissan, and Toyota - were early entrants to the PEV market, while European suppliers have yet to announce PEV launch plans for China.
Sectors: Electric drive, Emerging markets, Forecasts
Companies: BYD, General Motors, Honda, Nissan, Toyota
View next/previous articles
21 Nov 2012 -
Currently reading -
US: EV sales in China will fall far short of government targets - research
21 Nov 2012 -
Related sector research
Global market review of electric vehicles - forecasts to 2018
Find production volumes for the global electric vehicle passenger car market by OEM from 2000 to 2009 in this latest report. It provides a review of the latest technological developments and market tr...
Related company research
BYD Company Limited (1211) - Financial and Strategic SWOT Analysis Review
BYD Company Limited (BYD) is one of the leading manufacturers of rechargeable batteries. It principally operates in four business segments namely, Rechargeable Battery business, Handset Components and Assembly Services and Others. The range of IT pro...
BYD Company Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report
Datamonitor's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage....
BYD 2010 company profile edition 2
This latest edition just-auto company profile is part of a major series of reports that will provide you with convenient and concise analysis on the world's largest component and vehicle manufacturers. Each individual company is profiled in a consist...
Related articles
CHINA: Dongfeng takes stake in MMC partner Fujian
Dongfeng Motor has taken a shareholding in MMC's joint venture partner Fujian Motor. The deal gives China's second largest OEM new access to manufacturing capacity in the country's south east.
There are currently no comments on this article
Be the first to comment on this article