Electromobility: China takes pole position – again
In the Corona year 2020, electric vehicle registrations (BEV/PHEV) will increase by 14.6 % to 1.246 million passenger cars (incl. light commercial vehicles, LCV). In addition, there will be a further 121,000 buses and commercial vehicles with electric drives. The market share of electric vehicles (passenger cars and LCVs) increased from 5.0 to 6.2 %. The total passenger car market in China fell by 6% to 20.18 million cars. This means that demand in the world’s largest vehicle market has again declined slightly for the third year in a row (-6%). This is the result of the Electromobility Report 2020 of the Center of Automotive Management (CAM).
Battery-electric new registrations (BEVs) will increase at an above-average rate in 2020, rising to 1 million passenger cars (+16.1%) for the first time. The market share of BEVs grows to 5.0%. Plug-in hybrids (PHEVs) reach 247,000 new passenger car registrations (+9.1%), which corresponds to a market share of 1.2%.
According to the China Passenger Car Association (CPCA), the market leader for electric vehicles in 2020 in China is the Tesla Model 3 with over 137,000 vehicles. Together with the other models, the Chinese market is already likely to be responsible for around 30% of all global sales by Tesla, which will have sold 495,550 vehicles (+36%) worldwide in 2020. The American manufacturer benefits in China primarily from sales of the Model 3, which has also been built in the newly opened factory in Shanghai since the end of 2019. The Model Y, whose delivery started on 18 January 2021, is also manufactured there.
Study director Stefan Bratzel comments: “China is increasingly becoming the hub of the transforming automotive industry. China is not only the largest global car market, which has come through the Corona crisis best in a comparison of market regions. The country is also the most important market for electric vehicles, which represents an entry point for new players into the premier league of global car manufacturers. In addition to Tesla, domestic players such as Nio, BYD or Xpeng in particular are showing tremendous momentum in the new topics of the future.”
The study can be ordered here: https://auto-institut.de/e-mobility/
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