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New Energy Vehicle Market in China to Grow at a CAGR of 36.13% in 2017-2021
Wang.C.S  2018.08.02



The new energy vehicle market in China to grow at a CAGR of 36.13% during the period 2017-2021.

New Energy Vehicle Market in China 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

New energy vehicles (NEVs) are the vehicles enabled with an electric powertrain and powered through a battery. These vehicles can bring down near to zero emissions and can achieve up to 100% propulsion by electricity. Hence, China is pushing the adoption of more NEVs to bring down the dependency on oil fuels from the Middle East, reduce fuel emissions, and bring low-cost safer vehicles on the road.

According to the report, one driver in the market is cost reductions in electric powertrain components. The main components in electric powertrain compared to conventional ICE vehicles are the battery, electric controller, motor, and inverter. The supplier level cost of these components, except controllers, is going to decline during the forecast period, especially in China. This is due to the availability of abundant raw materials for motors, controllers, and battery manufacturing at lowest prices, which, in turn, increases the mass production of electric components. Thus, China is becoming the low-cost market globally, especially for NEV parts.
 
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