McKinsey: China is expected to lead the global electric car market
Mr. Gao Xu, a global director of McKinsey & Company, told the media on the 29th that in the traditional automotive industry, China has fallen behind the world leader for decades, but in the field of new energy vehicles such as electric vehicles, everyone is on the same starting line, and China has cost and market advantages. Potential and potentially leading position in the global electric vehicle market. McKinsey spent more than eight months studying the passenger car market in North America, Europe, China, and India. Its research report “China is poised to take off: Opportunities for electric vehicles†believes that under the general trend of energy conservation and emission reduction, China’s automobile industry, government agencies, and consumers all have the conditions to welcome electric vehicles. The development of electric vehicles in China can significantly reduce greenhouse gas emissions and reduce dependence on imported oil. The report pointed out that China has become the second largest automobile market in the world, and it will surpass the United States by 2030, ranking first. If China's auto industry develops with the current average annual growth rate of 12%, by 2030, the total number of passenger vehicles in China will reach 287 million, accounting for about 30% of the world's total automobile population at that time. Unless China adopts newer technologies for fuel economy and environmental protection, such a large number of vehicles will exert tremendous pressure on energy and the environment. Considering that gasoline and diesel-powered cars still dominate, China will need to import nearly 900 million tons of oil to provide vehicle fuel in 2030. The report believes that if China adopts a series of advanced technologies, including electric vehicles, compressed natural gas vehicles, and natural gas-based internal combustion engine technology, by 2030, the total amount of carbon dioxide emissions from passenger cars in China may be reduced by 40%. If electric vehicles account for 30% of all Chinese passenger cars by 2030, China will save 10% of its total oil demand. Gao Xu told reporters that the Chinese government has been actively promoting the development of the electric vehicle industry, providing research and development funds for research institutes and industry companies, and promoting electric vehicles and charging equipment in several pilot cities. Some Chinese automakers are also actively entering the global electric vehicle market. There are also some Chinese companies that provide batteries for electric buses in the United States, Japan, Italy and Finland. He believes that if the electric vehicle can achieve a 30% market share by 2030, the market size will reach 1.5 trillion yuan.
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