Electric and hybrid cars will dominate China in 2030

Electric and hybrid cars will dominate the domestic market by 2030, as China’s largest electric car manufacturers estimate. According to BYD founder Wang Chuanfu, new technology vehicles with charged battery and hybrids accounted for 10% of sales in China in March and increased to 11.4% in May.

Even more optimistic is the estimate of William Li, founder and CEO of electric car start-up Nio, who so-called “smart” electric cars may account for 90% of new sales in 2030. According to him, in May his company’s sales of passenger cars powered by new forms of energy increased by 23% compared to April. They reached 31,681, of which almost half were electric.

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Nio’s sedan Han is among the top five in new energy vehicle sales in China. It comes just after Tesla’s Model 3 and Model Y in the first five months of 2021, according to data from the country’s passenger car manufacturers’ association. First in sales is a low-cost electric car, the Wuling Hongguang Mini, a joint venture of General Motors in China.

Many non-Chinese automakers have attempted to import electric cars first in China, where sales of battery-powered vehicles are supported by financial aid and incentives given by the government, which is seeking by 2025 new cars to be 25% electric or hybrid.

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However, the founder of BYD estimates that by 2030 Chinese brands will account for 60% of new energy car sales, thanks to a good knowledge of basic technology in the genre.

source : thebharatexpressnews.com

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