This slide deck “An update on China’s EV Revolution” was developed by the Oxford Institute for Energy Studies. The deck indicates:
• Despite slower growth, China’s NEV market continues to expand, and is on track to surpass 50% market share for new vehicles in the next 18 months
• NEV sales are expanding for almost all market segments, but the most rapid growth is among PHEVs for larger vehicles, though PHEVs are still a minority of NEV sales volume
• Under either a rapid or slower growth scenario, NEVs are set to surpass 50% of the total vehicle stock by the early 2030s
• Battery output is expanding faster than the NEV market, and the slowdown in NEV sales growth has resulted in lower materials prices, which could sustain lower prices for larger batteries needed for the mass market, as well as exports
• Charging has expanded enormously, but utilisation is low; electricity statistics suggest EV owners rely heavily on public charging, using electricity sufficient to travel 1000 km per month
• Chinese EV brands and policy makers are focused on smart charging as well as bidirectional charging, though efforts are limited to pilots
Access the deck here
