China continues to be one of the main engines of growth in the automotive industry. In particular, experts are expecting huge growth rates in new
. China is already the world’s biggest market for electric vehicles – in 2016, sales rose by 53 percent to over 500,000 units, according to a recent study by Germany’s Center of Automotive Management (CAM). According to current plans, New Energy Vehicles (NEVs) should account for 40 percent of all newly registered vehicles in China by 2030 – equivalent to around 15 million new vehicles a year running on plug-in hybrid systems or all-electric motors.
“There’s plenty of evidence that China will remain the leading market for e-mobility by some margin,” says Stefan Bratzel, the Director of CAM. This is no accident. Given Western manufacturers’ unbeatable lead in combustion engine and transmission technology, China’s manufacturers regard electric drives as the country’s best chance to draw level with today’s technological leaders.“Customers are interested in us because we’re on the spot, offer solutions for car and commercial vehicle applications, and cover the full range of modular hybrid and all-electric drive systems”, explains Xing.