China’s electric vehicle industry is looking to make itself competitive by creating vehicles that can appeal to both low-end and high-end buyers alike as the country attempts to reduce pollution levels, reports the Guangzhou-based Time Weekly.
There are three factors affecting the successful promotion of electric cars: quality products, good complementary accessories and having smart business models, an industry expert stated.
Even though a wide variety of subsidies have been offered over the past five years by the central and local government for the use of new energy vehicles and despite the wide array of choices on offer, there are still very few pure electric vehicles on the country’s roads, the report said, noting that new energy vehicles already sold are generally for public use, with few have been purchased by private individuals, with a lack of charging stations frequently cited as a major reason.
With the subsidies offered, the price of a pure electric vehicle such as the Jianghuai iEV4 is as low as 70,000 yuan (US$11,500), while Zotye Auto’s Luis 4U can cost less than 50,000 yuan (US$8,160).
The BYD Qin, a plug-in hybrid compact sedan developed by BYD Auto that was launched last year, is now the best selling electric car in China, with 7,800 vehicles sold in the first eight months of the year.
For motorists with enough money, foreign brands such as Tesla and BMW are popular choices.
Tesla Motors, the world’s leading producer of electric cars, became a household name after entering the Chinese market last year and has been one of the main drivers for the electric car market.
Tesla chief executive Elon Musk has expressed optimism about China’s electric vehicle market, saying he expects sales of Tesla’s Model S in China to reach a level similar to that of the US by 2015. He also said he expects China to become the automaker’s largest market.
Tesla seeks to open factories in China, Musk said, adding the company plans to set up at least 30 charging stations throughout the country by the end of 2015.
Sales of energy-saving and new energy vehicles are hindered by a short battery life and a lack of of charging stations.
Source: http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20141015000046&cid=1202&MainCatID=12
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