NEWS//China's NEV dominance

China's President Xi Jinping has vowed to make China carbon neutral by 2060.

A component to achieving that goal is electric cars, known as new energy vehicles (NEVs) in China.

5M NEVs

As of the end of January, China had 5,000,000 NEVs on its roads. Compare that with 20,000 NEVs ten years ago.

To fuel these vehicles, China has developed the world's largest plug-in electrical vehicle market.

In 2020, nearly half of the world’s plug-in electric car production and 90% of heavy-duty electric vehicle production was in China.

NEV exports

Chinese NEV makers have begun to export their vehicles. Four Chinese automakers – BYD, BAIC, Geely, and SAIC – have sold more than 200,000 electric cars globally.  But global NEV sales will be hampered by insufficient infrastructure to charge these vehicles.

According to the South China Morning Post, "China has 72-gigawatt-hours of domestic battery demand, controls 80 percent of the world’s capacity for raw material refining, with the capacity to produce 77 percent of worldwide battery cells and 60 percent for components. Control over the global supply of EV batteries are expected to remain in the hands of the Chinese, Japanese, and South Korean producers."

 Sources: International Council on Clean Energy,  South China Morning Post 01, South China Morning Post 02, South China Morning Post 03, Inside Evs,