“In my view, by 2035, 95% of automobiles on the Chinese market will use renewable electric energy. No one will force people to switch to electric vehicles like they do in Europe, it will be consumer’s choice,” he said.
China’s share in the global EV market exceeds 50%; in other words, more than 1 mln automobiles are produced in China every month.
The advancement of electric vehicles relies heavily on battery energy storage technology. China is the world’s leader in car battery production and export. Around 70% of all car batteries in the world are of Chinese origin. Battery models have been designed allowing the vehicle to go approximately 1 thousand kilometers on a single charge. There are batteries with a fast-charge function allowing the driver to cover a distance of 200 kilometers after just a five-minute charge. Low temperature charge solutions are in the implementation phase.
In addition, China is currently developing an electricity market enabling EV owners to sell battery power back to the grid. This has provided another strong impetus to the EV industry.
