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People's Daily Online>>China Business

China expected to lead global electric vehicle industry

(People's Daily Online)

13:31, April 23, 2012

Axel Krieger from the McKinsey & Company explains the survey on April in Beijing.(People's Daily Online/Ma Xi)

Although sales volume of electric cars has not reached the satisfactory level, China is still expected to lead the global electric automobile industry, according to the newest survey Boost China's Electric Vehicle Industry issued by the McKinsey & Companyin Beijing on April 20.

As of the end of 2011, only 6,000 electric vehicles and plug-in hybrid electric vehicles were sold in China.

Director of the McKinsey & Company Axel Krieger said, "We believe electric vehicle has huge market potential in China despite many challenges". He added that the development of electric vehicle is an attractive practice to cope with problems like energy security, climate change and air pollution in China.

"With the rapid economic development, infrastructure improvement and consumer acknowledgement about the electric cars, China may surpass other countries in this industry", he said.

Electric vehicle may be firstly adopted in public service area in China, which can lay a foundation for the comprehensive market in the future.

Wang Sanqiang from the McKinsey & Company said China's government, vehicle manufacturers, spare part suppliers and infrastructure operators should formulate new strategy to boost China lead the global electric vehicle industry.(Ma Xi)

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