This one could be a super quickie, but I’ll put a little bit of context in here for those who don’t follow electric car sales or the China electric vehicle market very closely. China has a very strong interest in transitioning to electric vehicles, and the government is incentivizing their purchase in a number of ways.
While the growth is not occurring as quickly as the central government has intended, it has picked up significantly in the past year or so. In fact, recently, electric car sales have been higher in China than in the US, which has historically led the world in this market.
To say it’s all about the government support would miss a huge part of the story. Chinese giant BYD (“Build Your Dreams”) has put a very strong emphasis on electric vehicles (as well as other clean technologies), leading the global electric bus market and becoming a serious contender in the electric car market.
BYD has a handful of electric car models, but the Qin is the top dog at the moment. It has actually been selling very well since the moment it hit the market, which happened online and caused a superstorm of consumer activity. Monthly sales in China now rival (or beat) monthly sales of any other electric vehicle in a single market. The latest news (from José Pontes) is that 4,030 Qin plug-in hybrids were sold in July. (That’s a lot.)
The BYD Tang, a super hot plug-in hybrid SUV that reportedly goes from 0 to 100 km/h in just 4.9 seconds, saw 723 sales in July. It is almost brand new to the market, and I can’t see monthly sales staying below 1,000 for long. But we’ll see.