China is the largest market for electric vehicles

19. November 2019

China is currently the largest market for electric vehicles and also controls the access and processing of most of the raw materials needed for the production of batteries that are installed in these vehicles. Electrically powered vehicles continue to use lithium-ion batteries in whose cells metals such as lithium, nickel, cobalt and manganese are incorporated. By acquiring mines in countries such as Bolivia, Chile, Australia and Congo, China has become the main supplier of these metals.

According to the “Global EV Outlook 2019” report of the International Energy Agency (IEA), the number of globally registered electric vehicles in 2018 was more than 5.1 million. This represents an increase of two million over the previous year and almost a doubling of sales of electric vehicles. China remains the world’s largest market, followed by Europe and the USA, while Norway has the largest market share for electric vehicles. By the end of 2019, more than 300 million electrically powered two and three-wheelers will be on the roads, the vast majority of them in China. With sales in the tens of millions, the Chinese electric two-wheeler market is a hundred times larger than any other region in the world.

However, experts expect the market to shift to India in the next few years. On the one hand, demand for electric vehicles, especially in the two-wheeler segment, will increase sharply there as the Indian government has introduced numerous laws and subsidy programs for electric mobility. On the other hand, there could be a saturation effect on the Chinese market and a weak economy could lead to declines in sales figures.

The Chinese car manufacturer SAIC Motor Corporation has reacted to these possible changes in the market with its subsidiary MG Motor and offers a locally produced electric vehicle in India. For local production, MG Motors India invested $22 million in its plant and installed a completely new production line. The compact SUV from MG Motors, called ZS EV, will be offered in India from next year, while the corresponding infrastructure as fast charging stations will be installed and operated by MG at certain locations until October. Take the opportunity of the increasing globalization of the automotive and supplier industry and export your products to China. For the export of your products you need the obligatory China Compulsory Certification (CCC), for which we are happy to advise you.

For more information on how CCC certification may affect your company, or for more information about CCC certification in general, the process, and the associated costs, please visit our website and our News Section where you will find current updates twice a week.

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