Technical Paper
Light-duty Plug-in Electric Vehicles in China: Evolution, Competition, and Outlook
2023-04-11
2023-01-0891
China's plug-in electric vehicle (PEV) market with stocks at 7.8 million is the world's largest in 2021, and it accounts for half of the global PEV growth in 2021. The PEV market in China has dramatically evolved since the pandemic in 2020: over 20% of all new PEV sales are from China by mid-2022. Recent features of PEV market dynamics, consumer acceptance, policies, and infrastructure have important implications for both the global energy market and manufacturing stakeholders. From the perspective of demand pull-supply push, this study analyzes China's PEV industry with a market dynamics framework by reviewing sales, product and brand, infrastructure, and government policies from the last few years and outlooking the development of the new government’s 14th Five-Year Plan (2021-2025).
