Overview of the most important electric cars that are currently for sale in China (2020).
|BYD Qin Pro EV||170.000￥||520|
|BYD Yuan EV||110.000￥||300|
|Chana Eulove EV||158.000￥||315|
|Changan Eado EV||325.000￥||160|
|Chery Arrizo 5e||192.000￥||400|
|Dongfeng Skio ER30||150.000￥||255|
|Geely Emgrand EV||218.000￥||400|
|Geely Emgrand GSe EV||210.000￥||353|
|Great Wall Ora iQ5 EV||189.000￥||400|
|Great Wall Ora R1 EV||115.000￥||310|
|SAIC Baojun E100||94.000￥||250|
|SAIC Roewe Ei5||214.000￥||420|
|Tesla Model 3||328.000￥||560|
1 Price of the cheapest version, before subsidies, in Chinese Yuan (RMB).
2 Range of the version with the largest battery pack. As rated by the manufacturer.
Electric car sales in China
China is undoubtedly the most important electric mobility market in the world. Not only are the Chinese streets flooded with e-bikes and light electric vehicles, since 2009 the Communist Party is also pushing local and foreign manufacturers to develop, produce and sell increasing numbers of electric cars. One of the major incentives are “New Energy Vehicle” subsidies that automotive companies receive per sold electric car.
The results of China’s e-mobility policy are showing. In 2018, the People’s Republic registered about 1 million new electric cars. That’s more than in the American or European market, which registered about 500.000 new electric cars together.
Besides public policy, China’s lead in electric car sales can also be explained by the sheer size of its automotive market. China registers almost 30 million new cars per year, while the US and Europe have an automotive market that’s about half that size.
Many foreign car manufacturers want to enter the lucrative Chinese market, but the Communist Party doesn’t make it easy. Almost all foreign companies are forced into partnerships with local, often state-owned, enterprises. Moreover, production needs to happen in-country which is enforced with high import duties. This policy assures a much needed knowledge transfer and improves local employment numbers.
Until now, Tesla is almost the only foreign car manufacturer that managed to escape a local partnership. They are however building a major factory in Shanghai which will produce Model 3’s and other Tesla models locally.
Lately, the growth rate of the Chinese economy is decreasing, which already affected new car sales in a negative way.
Furthermore, China announced that it will decrease electric car subsidies in June 2019 and that the EV market will have to mature with less financial support from the government.
We can expect that the current economic downturn will be temporary, and that the Chinese electric car market (and the car market as a whole) will continue to flourish in the medium to long term.