China, the World's Largest Electric Vehicle Market

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Adi Ahdiat 27/04/2023 16:05 WIB

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According to the International Energy Agency (IEA), China has the largest number of electric vehicles. They account for approximately 50% of all electric vehicles on global roads.

Global Electric Vehicle Distribution (2022)

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Global Electric Vehicle Distribution (2022)

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According to the International Energy Agency (IEA), China has the largest number of electric vehicles in the world.

"China accounts for over 50% of all electric cars on global roads," the IEA stated in its *Global EV Outlook 2023* report.

The IEA estimates that by the end of 2022, there were approximately 13.8 million electric vehicles in China.

This figure comprises 10.7 million battery electric vehicles (BEVs) and 3.1 million plug-in hybrid electric vehicles (PHEVs).

BEVs are fully powered by batteries, which can be recharged using home electricity networks or at charging stations.

PHEVs, on the other hand, have two types of powertrains: a conventional gasoline-powered engine and a battery-based engine that can be charged like a BEV.

According to the IEA, the large electric vehicle population in China is due to government policy support and the industry's ability to lower electric vehicle prices.

The IEA reports that the average selling price of a small BEV in China is only around USD 10,000 or Rp 150 million per unit (assuming an exchange rate of Rp 15,000 per USD).

This price is significantly lower than that of small BEVs in European and US markets, which average around USD 30,000 or Rp 450 million per unit.

"Chinese car manufacturers are focusing on developing smaller and more affordable vehicle models," said the IEA.

"The low cost of electric vehicles in China is also supported by the integration of the battery supply chain with the electric vehicle industry, cheaper manufacturing processes and labor, and comprehensive financial access," it continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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China, the World's Largest Electric Vehicle Market

China, the World's Largest Electric Vehicle Market

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China, the World's Largest Electric Vehicle Market

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