Hundreds of Chinese companies are chasing a piece of the battery-powered-car market, backed by generous government support. Tesla invests $2 Bn electric-car factory in China in Jan 2020, a brief stroll around an upscale shopping district here shows the company already has plenty of local competition.
Storefronts for Chinese carmakers Byton & WM Motor display sleek new battery-powered models. And across from a Tesla dealership sits a multistory sales outlet for Nio, a Chinese company that delivered 20,000 electric cars to buyers last year.
The Chinese government has spent at least $60 Bn to support the fledgling electric-car industry, including R&D funding, tax exemptions & financing for battery-charging stations, which in turns 400-plus Chinese companies to get into the electric-car business. Some of those companies have cars on the market, however, & many will fail.
China Electric Car Market Overview:
The Global China Electric Car Market research study, which keeps a close watch on significant rivals, includes strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a thorough assessment of market circumstances in the near future. It’s a deep dive into primary and secondary market drivers, market share, leading industry categories, and regional market analyses. The global China Electric Car market study looks at important businesses, notable collaborations, mergers and acquisitions, as well as current innovation and corporate policies.
Market Scope:
According to the forecast period 2021-2027, the global China Electric Car market is expected to develop at a stable rate between 2021 and 2027. The market is expected to grow fast between now and 2021, with key industry players putting forward aggressive efforts.
Import/export consumption, supply and demand, cost, price, share, sales volume, revenue, and gross margins are all covered in this global China Electric Car market analysis. In the global China Electric Car market, this report looks at each producer’s manufacturing sites, capacity, production, ex-factory price, revenue, and market share. The countries (regions) studied include the United States (US), Canada, Mexico, Germany, France, the United Kingdom (UK), Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia.
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Drivers:
As China tries to recover from the impact of the covid-19, making sure its strategies for EVs stay on track is one priority. Soon after signs that the outbreak in China was under control, the central authority & local governments announced incentive policies aimed at automobiles, particularly new energy vehicles.
In the last few weeks, NEV subsidies & tax break policies set to expire this year were extended by two years to 2022. Battery charging infrastructure frequently cited as a motive for not buying an electric car got booster of 2.7 Bn yuan, which would allow for a ten-fold rise in scale versus last year.
China also targets to increase the share of new energy vehicles in the market to a quarter during forecast period, up from just 5% last year. As China battled Covid-19 in the first three months of the year, production of new energy vehicles fell 60.2 percent from a year ago to 105,000, while sales dropped 56.4 percent to 114,000 vehicles, Overall auto sales declined 42.4percent to 3.672 Mn vehicles.
Segmentation:
China also targets to increase the share of new energy vehicles in the market to a quarter during forecast period, up from just 5% last year. As China battled Covid-19 in the first three months of the year, production of new energy vehicles fell 60.2 percent from a year ago to 105,000, while sales dropped 56.4 percent to 114,000 vehicles, Overall auto sales declined 42.4percent to 3.672 Mn vehicles.
Meanwhile, China’s electric vehicle start-ups have pushed ahead with getting production back online & launching new products. Some have also reported increasing sales.
The objective of the report is to present a comprehensive analysis of the China Electric Car Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Key Players:
• Tesla
• BMW Group
• Nissan Motor Corporation
• Toyota Motor Corporation
• Volkswagen AG
• General Motors
• Daimler AG
• Energica Motor Company S.p.A.
• BYD Company Motors
• Ford Motor Company.
• Aiways
• Qiantu
• Qingyuan Auto
• Aoxin
The research focuses into the latest major developments by top manufacturers and innovation profiles in the Global China Electric Car Market.
The Competition Strategic Window examines the competitive landscape in terms of markets, applications, and geographies to assist the vendor in determining whether their strengths and future growth prospects are a good match. It describes the best or most advantageous fit for vendors to execute future business expansion and growth over a forecast time period by adopting sequential merger and acquisition plans, geographic development strategies, R&D strategies, and new product launch strategies.
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Regional Analysis:
Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America are the five regions that make up the global China Electric Car market. The Global China Electric Car Industry Research digs into the key geographies of the market, as well as notable segments and sub-segments. The study looks at the current condition of regional development in terms of market size, market share, and market volume. Figures, geographies, and revenue are included in this global China Electric Car market report, as well as an in-depth look at the business chain structure, opportunities, and industry news.
COVID-19 Impact Analysis on China Electric Car Market:
COVID-19 is a global public health crisis that has harmed practically every industry and is anticipated to hinder industrial progress between 2021 and 2027. Maximize Market Study (MMR) is broadening the scope of its research to include core COVID-19 concerns and possible solutions. COVID-19 is being investigated in light of shifts in consumer demand, purchasing patterns, supply chain rerouting, market dynamics, and government involvement. COVID-19’s influence on the market is assessed in this revised research, which includes insights, analyses, estimates, and forecasts.
Key Questions answered in the China Electric Car Market Report are:
- Which product segment grabbed the largest share in the China Electric Car market?
- How is the competitive scenario of the China Electric Car market?
- Which are the key factors aiding the China Electric Car market growth?
- Which region holds the maximum share in the China Electric Car market?
- What will be the CAGR of the China Electric Car market during the forecast period?
- Which application segment emerged as the leading segment in the China Electric Car market?
- Which are the prominent players in the China Electric Car market?
- What key trends are likely to emerge in the China Electric Car market in the coming years?
- What is the expected global China Electric Car market size by 2027?
- Which company held the largest share in the China Electric Car market?
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