Electrified vehicles are gaining traction amongst Chinese car buyers as the China Association of Automobile Manufacturers said that the deliveries of electric and plug-in hybrids are expected to exceed 1 million units this year, a 29 percent increase from 2017.
The association noted that in May, roughly 102,000 EVs and plug-in hybrids were sold in China, marking a 126 percent increase from 2017. The figure includes 82,000 EVs and 20,000 plug-in hybrids.
Additionally, the association also mentioned that for the first five months of 2018, China’s total sales of electrified vehicles came up to 328,000, a remarkable 142 percent increase from the same period last year. Looking closer, 250,000 EVs and 78,000 plug-in hybrids were sold.
Chinese car companies have been rolling out EV and plug-in hybrid variants of their cars, including Geely with the updated Borui sedan.
The Chinese government plans to do away with subsidies for EVs and plug-in hybrids by 2020. A carbon credit program is set to be introduced next year by the government to bolster domestic EV sales.