Sunday, March 26, 2023
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT US
198 Automobile News
No Result
View All Result
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us
No Result
View All Result
198 Automobile News
No Result
View All Result
Home News

Europe can win electric car sales race if it learns from China, Auto News, ET Auto

by The Editor
October 13, 2020
in News
0
Europe can win electric car sales race if it learns from China, Auto News, ET Auto
Share on FacebookShare on TwitterShare on EMail

[ad_1]

While subsidies in China are being dialed back, EVs are still much cheaper than elsewhere.
While subsidies in China are being dialed back, EVs are still much cheaper than elsewhere.

Sales of electric vehicles in Europe are growing at such a pace that the continent looks increasingly likely to outpace China in the near future.

That’s one of the findings of a report released Tuesday by London-based automotive research firm Jato Dynamics. However, it found that Europe and the US still have a few things to learn from China, the world’s biggest EV market, including prioritizing affordability, centralizing planning, and using data to better understand consumers.

Demand for cleaner and smarter cars is rising globally, particularly in Europe where the market has been bolstered by tighter emissions regulations along with an increasing awareness of climate change. EV sales in Europe in the first half exceeded China for the first time since 2015.

Although the coronavirus pandemic hurt all car sales, including EVs, which fell 15% globally in the second quarter, the market for electric vehicles is forecast to expand about 7% this year, led by Europe, according to a September report from BloombergNEF.

“What governments in underdeveloped EV markets now need is a more centralized plan to catalyze growth and create an optimal environment to build consumer confidence by making adoptions as simple as possible,” Jato’s report said.

Charging station:

Besides heavily subsidizing EVs, the government in China has created an effective infrastructure and implementation strategy that’s crucial to supporting adoption, the report found. According to the International Energy Agency, the number of public slow- and fast-charging spots reached 862,118 worldwide, with China taking a 60% share.

Europe can win electric car sales race if it learns from China

Tesla Inc., the California-based company that’s currently the world’s biggest EV maker, earlier this month cut the price of its China-made Model 3 sedan to 249,900 yuan ($36,800), cheaper than anywhere else, aided by supply chain localization, especially batteries.

While subsidies in China are being dialed back, EVs are still much cheaper than elsewhere. In Shanghai, it costs $13,000 for a license plate for a vehicle with a combustion engine whereas it’s free for an EV, thereby “creating a huge economic incentive and making the use of electric vehicles a no brainer,” Jato said. Automakers in Europe meanwhile have traditionally had a focus on luxury, more expensive EVs.

China isn’t the only country to offer EV subsidies, but it also spurred the domestic manufacturers by ensuring imported vehicles were for a long time not eligible for subsidies, and subject to import tariffs.

Europe can win electric car sales race if it learns from China

Beyond its home market, China aims to become a global automotive superpower and considers wider penetration of its own EVs as essential to that objective longer term.

“Despite sales data showing signs of an impending slowdown, once subsidies are fully phased out, the EV market in China will still be miles ahead of its competitors,” the report said. “Currently, there are 138 different EV models available in China, 60 in Europe and 17 in the U.S.”

It’s “apparent that a lighter touch approach is simply not as successful, as can be seen in the EU or U.S.”

Additionally, the use of data by Chinese firms including suppliers to the auto industry enables them to understand consumers better, and local buyers are very different to those in Europe.

“Chinese consumers are tech savvy, early adopters and keen to be at the forefront of digital development. A third believe it is critical to have in-car connectivity, compared to 18% of consumers in Germany,” the report said. “European consumers have typically been more hesitant when it comes to the adoption of electric vehicles, uncertain of EV capabilities and preferring to stick to what they know.”



[ad_2]

Source link

ShareTweetSend

Related Posts

Food delivery strike in Malaysia today – Grab responds

Food delivery strike in Malaysia today – Grab responds

by The Editor
August 5, 2022
0

Yesterday, it was reported that food delivery riders were set to go on a 24-hour nationwide strike today to...

Tesla investors approve stock split; Musk to add factories, Auto News, ET Auto

Tesla investors approve stock split; Musk to add factories, Auto News, ET Auto

by The Editor
August 5, 2022
0

Tesla announced plans for the split in late March when shares were trading over $1,000. It will not affect...

FACT OR FICTION: The Sobering Truths Behind Fleet Safety – Webinar

FACT OR FICTION: The Sobering Truths Behind Fleet Safety – Webinar

by The Editor
August 5, 2022
0

August 24, 2022 |11:00 AM PST |Duration: 1 Hr ...

Auction Academy Class Marks a Half Year of Upfront Training – Remarketing

Auction Academy Class Marks a Half Year of Upfront Training – Remarketing

by The Editor
August 4, 2022
0

Auction Academy’s 7th Class Group met in Spokane, Washington for three days of training that included DAA...

Cummins completes acquisition of Meritor, to deliver decarbonized solutions, Auto News, ET Auto

Cummins completes acquisition of Meritor, to deliver decarbonized solutions, Auto News, ET Auto

by The Editor
August 4, 2022
0

New Delhi: Global power and technology leader, Cummins Inc. recently completed the acquisition Meritor, Inc., a leading global supplier...

2022 Chevrolet Silverado 1500 ZR2 AWD Review & Test Drive : Automotive Addicts

2022 Chevrolet Silverado 1500 ZR2 AWD Review & Test Drive : Automotive Addicts

by The Editor
August 4, 2022
0

Who would have thought that there would be an American truck race where manufacturers are vying for recognition for...

Load More
Next Post
Ford and Verisk to offer telematics data to insurers | Automotive Industry News

Ford and Verisk to offer telematics data to insurers | Automotive Industry News

In the cab with the Waymo Driver: How trucks help advance our self-driving technology

In the cab with the Waymo Driver: How trucks help advance our self-driving technology

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

No Content Available
Load More
198 Automobile News

Get the latest automotive news and follow the coverage of updates, new release, auctions, deals and and more from the world's top trusted sources.

Follow Us

Categories

  • Auto Auctions
  • Autodeals
  • Blog
  • Brands
  • Business
  • Clubs
  • Global Trends
  • News
  • Reviews
  • Videos

Recent News

CerebrumX’s deep learning platform hints at the future of connected vehicle data

CerebrumX’s deep learning platform hints at the future of connected vehicle data

August 5, 2022
Food delivery strike in Malaysia today – Grab responds

Food delivery strike in Malaysia today – Grab responds

August 5, 2022
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2020 198 Automobile News.

No Result
View All Result
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us

Copyright © 2020 198 Automobile News.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?