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China's electric car leaders predict new energy vehicles will dominate the local market by 2030

New energy vehicles will dominate the world’s largest auto market in about ten years, two executives from major Chinese electric car companies predicted in these days.


“New energy vehicles refer to battery-powered and hybrid cars. The category accounted for more than 10% of new car sales in China in March, and grew to 11.4% in May”, said Wang Chuanfu, founder of BYD. He forecast that the penetration rate would surge to more than 70% in 2030.


William Li, founder and CEO of electric car start-up Nio, was more optimistic. He predicted that so-called smart electric cars would account for 90% of new car sales in 2030, according to Chinese media reports.


With government support and new sustainable initiatives such as the 2060 carbon neutrality plan, the Electric vehicle market in China is an emerging and promising market. And many foreign automakers such as Volkswagen, BMW, and Porsche, etc. also have looked to launch electric cars in China first.


Why EV cars developed so fast? Because the certainty of Chinese economic development. The Chinese government vigorously supports the development of the EV industry through car purchase subsidies and other means. For instance, before 2019, the Chinese central government provided purchase subsidies for battery electric vehicles (BEVs) and vehicles with any electric ranges (e-ranges). And to help the electric vehicle sales rebound in 2020, though at reduced rates, the central government extended through 2022 monetary incentives that were about to expire.

Secondly, the development of Chinese EV industry can drive the growth of related industrial chains and bring enormous economic benefits.


In addition, the electric vehicle industry gives China a new start. Many smart and innovation technologies are also promotes the development of the new energy vehicles in China. For instance, in Huawei’s automotive digital solution, it plans to base on Information and Communication Technology and to use innovative technologies like 5G, Clouds and big data to help Chinese car companies build better cars.




Interested to know more new and advanced smart EV technologies? Come to join in the SAECCE 2021, which will be held in shanghai on 19-21 October, 2021.



SAECCE has been held for 27 consecutive years, bringing together the world's leading car companies and suppliers, with topics related to automotive electronics, connected car and autonomous driving, EV/HV/FCV, lightweight, vehicle simulation and testing etc. 


Meanwhile, consisting of many fairs such as technical exhibition, releasing medium-and long-term planning report, test drive, new product announcement, awarding ceremony, etc., there are almost over 10,000 attendees to participate. SAECCE is become a highly professional and international platform with great influence for technical exchange and extensive participation and recognition in China automotive industry.