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Wednesday, November 30, 2022

China could keep 60% of global electric car sales

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What are the causes behind this Chinese growth

Currently there are about 250 types of electric vehicles in the Chinese passenger market. It should be noted that currently The average autonomy of the best-selling vehicles so far this year is 420 kilometers.

Despite this, there is still a long way to go since minicars do not reach 250 kilometers on average, while large ones and SUVs far exceed 500 kilometers. The average distance of all types of electric vehicles improved by 42% since 2018.

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On the other handlithium-ion phosphate batteries continue to gain market share. LFP batteries are cobalt and nickel free and as a result generally cost less than other types of batteries used for these types of vehicles.

New models in China using LFP batteries are increasing rapidly and now account for half of all models launched on the market.

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Also, the efficiency of electric vehicles in China is slowly but steadily improving. The average efficiency of electric vehicles has improved 2% per year since 2018.

“This is mainly due to more efficient engines and power electronics, better thermal management systems, and efforts to reduce weight in other parts of the car,” Siyi Mi told Bloomberg online.

Plug-in hybrids are finding real traction in the larger vehicle segments in China. PHEVs reached 15% of sales in the large car segment and almost 25% in the large SUV segment from January to August.

Plug-in hybrids are also becoming a popular option in regions where public charging infrastructure is not as developed.

Finally, electric vehicle sales are spreading beyond the big cities. Places like Shanghai and Beijing had high EV adoption rates for several years, due to municipal policies that restrict the number of new license plates issued.

Electric vehicles were exempt from some of these restrictions, making them a popular option in China’s mega-cities. These cities also have clusters of local automakers and component suppliers, good charging infrastructure, and other incentives that help drive EV adoption.

In the last two years, EV sales quickly spread to smaller cities and townswhich highlights that electrification is not only a phenomenon of big cities.

Source: Ambito

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