Domestic NEVs enjoy global first- mover advantage as technology improves

Chinese new- energy vehicles ( NEVs) are expected to lead the development of the global auto industry, said Wang Chuanfu, CEO of Chinese leading electric carmaker BYD Co, at an automobile forum held in Southwest China’s Chongqing Municipality on Sunday.

Wang said that Chinese brands have surpassed the technical level of many joint venture brands, in terms of models, batteries, motor performance, electronic controls and other core technologies including intelligent networking and intelligent dashboard displays.

He predicted that by 2030, NEV sales will account for about 70 percent of the Chinese car market, thanks to the government’s effective measures to encourage green driving and cut carbon footprint.

An official from the Ministry of Industry and Information Technology ( MIIT) pointed out that China’s electric vehicles have consolidated a first- mover advantage as the world’s largest electric car market

Luo Junjie, an official from the MIIT, said that the R& D ability of Chinese electric carmakers has been significantly enhanced with the quality level steadily improving, and output and sales have ranked first globally for the past six consecutive years.

The functionality and performance of Chinese electric vehicle brands has been on the rise, according to the China Council for the Promotion of International Trade’s Automotive Sub- council.

Sales of L- 2 autonomous driving vehicles topped 3 million units in 2020, up 107 percent year- on- year, to account for over 15 percent of the global market. It is predicted that by 2025, the market share of autonomous and partially autonomous vehicles will exceed 50 percent in the country.