FILE - In this April 25, 2018, file photo, a visitor takes a closer look at the Sylphy Zero Emission during the start of the Auto China 2018 in Beijing, China. The 2019 Shanghai auto show highlights the global industry's race to transform electric cars into a profitable product Chinese drivers want to buy as Beijing winds down multibillion-dollar subsidies that made this country the biggest market for the technology.
General Motors, Volkswagen, Nissan and other global majors are developing models to suit Chinese tastes. They have money and technology, but local rivals have experience: brands including BYD Auto and BAIC Group have been selling low-priced electrics for a decade. Automakers are looking to China, their biggest global market, to drive revenue growth at a time when U.S. and European demand is flat or declining. That gives them an incentive to cooperate with Beijing’s campaign to promote electrics.
Latecomers to gasoline-powered vehicles, Chinese brands account for just 10% of global sales, mostly in low price tiers, Gong said. But they account for 50% of electric sales worldwide.The ruling Communist Party has spent billions of dollars on research grants and incentives to buyers. State-owned power companies have blanketed China with 730,000 charging stations, a vastly larger network than any other country.
rip off of Nissan Sentra & Honda Civic
Ford I’d rather have my Ford Focus Active; as a Gen Z I don’t want a electric car unless I can charge it from empty in 15 mins.
Make an electric car that’s affordable, attractive, reliable and gives me a tax break, and I’ll get one. About time that the US consumer has a choice.
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Source: Reuters - 🏆 2. / 97 Read more »