World Bank Study Highlights Growth Potential for China’s Electric Vehicles Industry
20 April 2011: A new World Bank study, titled "The China New Energy Vehicles Program: Challenges and Opportunities," estimates that the growth of electric vehicles over the next 10 years is expected to be signiﬁcant, with industry forecasts suggesting that global plug-in vehicle sales will contribute between 2-25% of new vehicle sales by 2025.
The findings are based on in-depth research and interactive sessions with government, municipal and industry leaders, and were discussed at a workshop jointly hosted by Beijing Municipality and the World Bank. This rapid growth is expected to usher in a new global electric vehicle era estimated to be worth US$250 billion worldwide in ten years.
The preliminary findings of the study indicate that the scale of China's electric vehicle programme leave the country poised to benefit from vehicle electrification. Vehicle electrification is expected to be strategically important to China's future in the following four areas: global climate change; energy security; urban air quality; and China's auto industry growth. [Publication: The China New Energy Vehicles Program: Challenges and Opportunities]