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Tag: China Association of Automobile Manufacturers (CAAM)

EV sales surge in China but infrastructure lags behind

Other countries should take heed and start building the needed charging infrastructure ahead of the increasing demand.

Huang Fei / CGTN »

More than 3 million electric and hybrid cars are expected to be sold this year in China, taking up half of the global share, the China Association of Automobile Manufacturers (CAAM) predicted in October. However, a lack of charging facilities on motorways holds back some consumers from buying electric cars.

As hundreds of millions of travelers hit the road for the National Day holiday in October, charging facilities on motorways were stretched to the limit. Some drivers said they had to line up for four hours to charge their vehicle.

China already has the world’s largest charging network for electric vehicles, with more than 2 million stations. This includes publicly and privately-run plugs, and battery swapping services.

“On average, there is one charging station for every three electric cars in China. We still have a long way from the ideal ratio of one car, one charge,” said Wen Fushuan, professor at Zhejiang University and a fellow of the Institute of Electrical and Electronics Engineers.

“One of the main challenges is building charging circuits in old neighborhoods that cannot take large loads.”

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Sales of new energy vehicles in China surged 148% in September

BloombergQuint »

Sales of new energy vehicles surged 148% in September, data from the China Association of Automobile Manufacturers showed, spurred by Beijing’s promotion of greener vehicles to cut pollution. The better-than-expected figures have offset worries over supply issues, according to Kelvin Lau, an analyst at Daiwa Capital Markets. “Automakers are expecting a stronger fourth quarter and likely to raise their sales guidances,” he said.

Government support is key for the attractiveness of EV names, particularly in the wake of crackdowns on other sectors. “Policy risk is very low compared to other industries like education, internet or property,” said Toliver Ma, analyst at Guotai Junan Securities Co., who added that Chinese companies that have links to Tesla Inc.,which is trading near a record, may get an added boost.

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