E-car segment revs up to push throttle full forward
As gasoline vehicles may be phased out, action heats up even on bourses where some shares are up
Potential end to sales of gasoline cars in China could benefit makers of electric cars, and suppliers of spare parts and power management solutions in the long run, analysts said.
In fact, ever since talk started about a gradual shift to e-vehicles, shares in e-car companies fluctuated significantly.
Policymakers have been hinting at a possible timeframe soon for phasing out cars that use gasoline as fuel from the China market.
For instance, Xin Guobin, deputy head of the Ministry of Industry and Information Technology, said at a news conference in early September that authorities are studying a timetable for stopping sales of gasoline cars in China.
At another conference on power and battery development, Xin said that the development of high-efficiency special batteries is key to the development of e-vehicles in China.
Wang Chuanfu, president of BYD, China’s largest e-car maker, said in a recent interview that he estimated sales of gasoline cars will likely end in 2030.
According to Wind Information Technology, a market information provider, investors may have traded in shares of e-vehicle makers to the tune of 2 billion yuan ($301.6 million) to 5 billion yuan in the last two weeks of September, in the run-up to the week-long National Holiday.
Shares in e-car market leaders and battery suppliers outperformed other auto industry labels. For instance, shares in Shenzhen-listed BYD, rose almost 44 percent from