How China Becomes the LARGEST EV Market in The World
By Joel Wong
*The Rise of Asia organization is a platform that focuses on exploring and understanding the economic and technological advancements of Asian countries, particularly China. It provides insights into various aspects of China’s development, such as its rise in the electric vehicle market, economic strategies, technological innovations, and other relevant topics. Through its content, including videos and posts, Rise of Asia aims to shed light on China’s growth trajectory and its impact on global industries and markets.
China’s rise as the largest EV market involved a strategic approach, leveraging unique advantages and government support. Here are the key takeaways:
- Starting with Adjacent Industries: China began with electric buses and motorcycles before moving to cars, refining battery technology and consumer acceptance.
- Operational Solutions: Flexible charging schedules and collaboration with industries like taxis made EVs more practical.
- Core Technology and Supply Chain: Heavy investment in battery technology and securing raw material supplies, such as through deals with Congo for minerals, gave China a significant advantage.
- Government Support: Strategic investments and policies beyond subsidies, including practical solutions for EV adoption, boosted development.
- Leveraging Existing Capabilities: Utilizing established manufacturing capabilities and infrastructure from the automotive industry helped reduce barriers to EV production.
This comprehensive strategy has positioned China as a global leader in the EV market, surpassing traditional car giants like Germany and Japan.