china electric car 2020

China manufactured and sold about 1.2 million plug-in electric vehicles in 2018, which was more than three times the sales in the US. China has become the fastest and largest growing market for electric vehicles in the world. The Chinese government offers generous incentives for buyers of electric cars below a certain price. In 2019, just over 20 million cars were sold in China, compared to 17 million in the US. The Chinese State Council had initially planned to phase out the subsidies offered on cars classed as ‘new energy vehicles’ by the end of 2020, but has this week … Tesla is belatedly eyeing China because electric cars are dominating there.

New electric cars (EV) had a market share of 4.2% of new cars sold in China for the entire year of 2018. China has backflipped on its move to slash subsidies for electric, fuel-cell, and hybrid vehicle buyers.. Electric cars led the overall decline in China auto sales last month. In 2018, the Chinese government’s top economic-policy agency set a goal to have half the new cars on China’s roads be partially or fully autonomous by the end of 2020.