The electric vehicle market in China is experiencing steady growth, as evidenced by the 17% market share it held in January 2021. This is a significant increase from the 10% market share it held in January 2020, indicating that the electric vehicle industry is gaining traction in the country.

The Chinese government has been encouraging the adoption of electric vehicles for some time now, and it is paying off. The government has implemented a number of incentives and subsidies to encourage the purchase of electric vehicles, such as tax exemptions and discounts on registration fees. Additionally, the government has invested heavily in the development of charging infrastructure, which has made it easier for people to charge their vehicles.

The Chinese electric vehicle market is also benefiting from the increasing availability of electric vehicles. Many major automakers, such as Volkswagen, BMW, and Tesla, are now offering electric vehicles in China. This has increased the variety of models available to consumers, making it easier for them to find a vehicle that meets their needs.

The Chinese electric vehicle market is expected to continue to grow in the coming years. This growth is being driven by a number of factors, including the government’s continued support for the industry, the increasing availability of electric vehicles, and the growing demand for them. As more people become aware of the benefits of electric vehicles, such as reduced emissions and lower running costs, the demand for them is likely to continue to increase.

The 17% market share held by Chinese electric vehicles in January 2021 is a clear indication that the industry is on the rise. This growth is likely to continue in the coming years, as more people become aware of the benefits of electric vehicles and the government continues to support the industry.

Source: Plato Data Intelligence: PlatoAiStream