BOSTON--August 14, 2012: In its April 2012 Energy and Emissions Program, the Chinese government announced production and sales targets. It also specified technical requirements for electric and plug-in hybrid vehicles. However, Strategy Analytics predicts a severe shortfall from the goal to bring five million plug-in vehicles onto Chinese roads by 2020 as noted in the recent Automotive Electronics Service (AES) report, "What Chinese Government Policies Mean For Electric and Plug-In Hybrid Vehicles."
“What Chinese Government Policies Mean For Electric and Plug-In Hybrid Vehicles.”
Kevin Mak, analyst in the Automotive Electronics Service (AES) at Strategy Analytics, explained, "Electric vehicles are always going to be a tough sell as the cost of batteries has made them too expensive for the average consumer, even more so for the price sensitive, emerging Chinese market."
Automotive Electronics Service Director, Mark Fitzgerald, added, "Chinese government automotive regulations seem to overlook the availability of recharging infrastructure and vehicle safety criteria. Without such requirements, the government's production and sales targets will not be met."
As forecast in the recent Strategy Analytics System Demand Forecast, Automotive Electronics System Demand Forecast 2010 to 2019: Growth in Uncertain Times, realistic targets for the Chinese automotive markets include:
- Production units reach 100,000 units, instead of 500,000 units, by 2015; and
- Cumulative production of one million units, instead of five million, by 2020.
About Strategy Analytics
Strategy Analytics, Inc. provides the competitive edge with advisory services, consulting and actionable market intelligence for emerging technology, mobile and wireless, digital consumer and automotive electronics companies. With offices in North America, Europe and Asia, Strategy Analytics delivers insights for enterprise success. Strategy Analytics
