China’s Thirst For Electrified Vehicles Continue To Grow

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.