China appears to be rethinking EV subventions
China appears to be rethinking EV subventions (electrive)
- According to an anonymous source cited by Bloomberg, the Chinese government is considering an extension of its subsidies for new energy vehicles beyond 2020 instead of phasing them out like it originally planned.
- Talks are reportedly still early stage but focussed on ways in which the Chinese EV market can be revived following the recent sharp drop in sales.
- China remains the world’s most important market for electric mobility, but 2018 unit sales were down 4% yoy.
Analysis and Comments
- The Chinese authorities were earlier planning to phase out all EV subsidies by 2020. This is clearly not feasible considering that EV battery costs are still higher versus that required for EVs to breakeven with a gasoline vehicle.
- As explained by many analysts and in my other posts, battery cost reduction is likely to slow down in the coming years.
- Analysts think that as subsidies are eventually removed in China and elsewhere there will be a temporary negative hit to passenger EV adoption.
- However, in the long term, regulations will drive EV adoption, although they think it will be at the expense of the driving range as automotive OEMs will be forced to keep battery sizes small to make money on mass market EVs.
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China seem to always bring out something beautiful when it comes to creating technological products, we hope this coronavirus does not destroy their dear country.
Coronavirus has now more chances to destroy other countries than China, they are almost out of it. I am afraid it might not be the case for Middle-East, India and Africa...
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This is another great advancement in technology for China.
But what are the chances that Electronic Vehicles will be adopted by the masses considering the high cost of batteries as stated?
As every new technology, first it is expensive and cost will go down (cf computers, smartphones...)
Prices will be close to traditional vehicles
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I am glad they are not allowing coronavirus issue take all their time and attention, I wish them the best.