Will China Bust Open The Global EV Market?
China's anti-Teslas: cheap models drive electric car boom
Jake Spring w/Joseph White and Ian Geoghegan, January 12, 2017 (Reuters)
“More electric cars are sold in China than in the rest of the world combined, but are mainly locally-branded models that are cheaper and have a shorter range than those offered by foreign automakers such as Tesla and Nissan…[China has spent billions on subsidies to support its electric vehicle (EV) market in reaching] large-scale production of plug-in vehicles, which are gaining traction among urban drivers as well as taxi fleets and government agencies...Sales of battery electric and plug-in hybrids increased 60 percent in January-November, to 402,000 vehicles. By 2020, China wants 5 million plug-in cars on its roads…The domestic EVs don't have the 'wow' factor of a fast, longer-range and luxury-style Tesla…[but] China's cocktail of pro-electric policies is a challenge for global automakers…[Experts say that by 2020, when China will have no subsidies, its scale will have expanded and its unsubsidized costs will be affordably low]…” click here for more