China is leading the race to replace petrol and diesel engine cars with electric vehicles. The big paradigm change will happen sooner than expected, the relevant data shows. Some stark facts suggest that the era of internal combustion engines will soon be over and how great a role China is playing in the process.
1. As per data available with the China Association of Automobile Manufacturers, electric vehicles made up about 25 percent of all vehicles sold in the country in 2022.
2. The share of electric cars in the country's car industry grew at a whopping 90 percent in one year.
3. The EV market share in China is projected to increase to more than 40 percent this year despite a downturn in the global auto industry.
4. China's electric car dominance is the result of constant state support and high level of investments from early 2000s.
5. In China, there are more than 300 electric car models available in the market, offered by as many as 94 car companies.
6. Chinese companies are now focusing on the global market and will extend their electric car dominance into these markets as well, triggering a massive shift to EVs worldwide.
According to an AFP report, the Chinese government's years-long attempts to replace fossil fuel cars with EVs has resulted in a vast consumer base in the country that buys electric cars. Now Chinese EV companies are ready to extend their dominance of their home market to the world stage, the report says. This will accelerate the global shift to electric vehicles sooner than expected.
According to Richards, China has made huge resources available for the electric car industry. "They skipped developing petrol engines because they can't compete with the rest of the world ...So they thought: '(With EVs) we can get a head start in front of everyone else," he said.
