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How Long will Electric Vehicle Lead the Trend?

Date:2017-11-15 09:11:01

                                                 How Long will Electric Vehicle Lead the Trend?
 

Future mobility and electric vehicle have brought about widespread attention in the field of green energy. In China, the government has set a goal that one of every five new cars be powered by a fuel other than gasoline by 2025. Undoubtedly, the auto market is on the way to a world of electric vehicles! In general, a few key factors power its booming!
 
Cost Reduction
Since 2002 in which the “863 EV Project” started, China has entered into a rapid development stage. During these fifteen years, shaking changes for electric vehicle production has been made. Tony Seba, a Lecturer in Entrepreneurship, Disruption and Clean Energy at Stanford University denoted that during 1995 - 2010, the production cost for battery and Li-ion battery jumped down 14% while during 2010 - 2014, it decreased by 10%. Incredibly, the production cost in the past few years dropped by 20%.
 
On account of the cost production of EV components such as battery, the production cost for EV is also positively affected. For the time being, an electric vehicle is produced at the cost of 35,000 dollars or so. But as of 2025 the cost may be reduced greatly to 20,000 dollars. The remarkable cost production will ramp up the swift development of EV.
 
High Performance
Compared with fuel-powered vehicle, the electric vehicle boasts advantageous energy efficiency, emission, and high performance. Firstly, electricity is much cheaper and more convenient to transport than gas or fuel. Secondly, the maintenance of EV is quite cheaper than the traditional one, as the EV is composed of approximately 18 mobile parts and components. Last but not least, the lifespan of EV is above 500,000 miles, much longer than that of fuel vehicle.
 
In view of the car performance, EV’s acceleration performance of 0-100 0-100km/h is proud to be the selling point. For instance, “Tang” and “Qing” two electric SUV of BYD Chinese manufacturer of vehicles, buses, batteries is superior to the super cars when competing in start acceleration.
 
Governmental Support
There were only 2 or three governmental departments accelerating the pace of new energy vehicle development before 2009. Nevertheless, the governmental supports for this sector are being stronger and stronger. In 2017, 18 governmental departments get involved in it.
 
Among which, the bus transportation is the most obvious improvement. In the previous year, new energy bus accounted for 27% of the total bus. And there were almost 20,000 new energy taxis, 100,000 new energy logistic vehicles. By 2020, it is forecast to scale up to 300,000 new energy vehicles.
 
Positive National Policy
So far, not a few countries have mulled their timetables to ban fossil fuel vehicles, including France, Germany, India, Norway, Netherlands, China, etc. The launch of the ban timetables drives forward the vehicle manufacturers shifting their focus on new energy vehicle.
 
To stay current with market trends, international key players comprising Volvo, Toyota, Volkswagen, BMW, Benz announce their EV projects in succession. Each vehicle of Volvo will be equipped with one motor from 2019 while Toyota will stop to sell ICE vehicle as of 2050 completely. Volkswagen is predicted to sell about 400,000 new energy vehicles in China alone while by 2025 the figure could go up to 1.5 million. The engagement of these EV powers boosts the development of EV.
 
Backed by such incentives, electric vehicle in the next following years embraces a bright future. As reported, electric vehicles will become more popular and could power nearly half of all new vehicles sold worldwide by 2030. The global auto will be powered mainly by fuel battery, pure electricity, plug-in hybrid, gas, fossil fuel, diesel oil by 2050. And approximately 80% autos will be equipped with the electromotor. It is convinced that the EV market will be progressed very soon.
 
 

 

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