Published on : May 16, 2019
The world will witness the electric revolution, but will be driven by China and not the U.S. According to the analysis, the global mobility transformation is sure to come sooner than later in all the vehicles. This will create a shift from petroleum fueled ones to electric vehicles. The trend is rising in China already, with biggest automobile market across the globe, in 2018, China sold 23 mn cars in 2018.
Electric cars are on the verge of getting more popular in the coming ears. Many people are opting to buy them in the past few years. The sales of e-cars in China had crossed the revenue over the U.S. in 2015.
Cost of Batteries are the Major Concern
Price of the battery in the vehicles is a major factor affecting the sales of the electric vehicles. China manufactures over 50% electric batteries across the globe. There is a decline in the prices of batteries in the last few years. It also predicts that in five year’s span, it would become much affordable to purchase diesel-fuel car than an electric car.
Researchers predict that China would be producing around 70% of electric vehicles across the world by 2021-end. The rising demand for batteries for electric cars also supports this.
The advent of electric vehicles could bring some relief to rising concerns regarding environment and energy in China, accepts the government. As a result, the government of China is focusing on electric vehicles as among the key industry to earn revenue from. This is also likely to improve industrial technology.