China’s goal of putting 3 million electric cars on the road by 2025 still appears to be on track. But some automakers who took government money without delivering as promised are being forced to pay that money back.
CCTV’s Wu Guoxiu has Insight into China’s electric car industry.
China wants 3 million electric cars on road by 2025China’s goal of putting 3 million electric cars on the road by 2025 still appears to be on track. But some automakers who took government money without delivering as promised are being forced to pay that money back. CCTV’s Wu Guoxiu has Insight into China’s electric car industry.
The electric car industry is booming in China. At the Chengdu Auto Show, held this month in southwest China’s Sichuan Province, electric vehicles were seen just about everywhere. Chinese, and foreign automakers, showcasing their latest electric innovations.
“Our objective is, by 2025, there will be one million Volvo cars that are powered by electrification. So, we have a full range of cars that have plug-in hybrid of full battery electrified,” Volvo Car Asia Pacific President, Yuan Xiaolin said.
Chinese automaker JAC just developed its first all-electric SUV. It was developed entirely by its own Chinese research and development team.
“JAC Motors have been adhering to development driven by innovation. The main focus is on new energy vehicles, including pure electric vehicles and hybrid vehicles. Pure electric vehicles can help solve the complete structural transformation of the auto industry,” JAC Motors deputy General Manager Yan Gang said.
JAC is in talks to join forces with German automaker Volkswagen. This month, the two companies signed an agreement to explore electric vehicle manufacturing together.
The government plans to phase out these green car subsidies by 2020, all the more reason for auto makers to innovate and boost sales.
Levi Tillemann on electric car technology and market
Despite the boom, electric car sales are still only a fraction of the overall industry. So, why are consumers holding off on buying these cars?
CCTV America’s Mike Walter interviewed Levi Tillemann. He’s the author of a book called “The Great Race: The Global Quest for the Car of the Future” and managing partner at Valence Strategic, a market research firm.