Summary of New Energy Vehicles vs. Internal Combustion

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If you’re visiting or reading up on major auto expos, you may notice a growing number of electric and hybrid vehicle prototypes from unknown Chinese start-ups. The need to reduce pollution and emissions is giving rise to a new generation of cars – dubbed “new energy vehicles” (NEVs) – across China, home to the world’s largest car market. The Chinese government is subsidizing the NEV sector and has announced that it will ban the sale of internal-combustion vehicles in the future – sending legacy car makers scrambling to future-proof their businesses. Liu Shanshan is a columnist at Iyiou, a news site known for its tech and business analysis. Here she shares insights into the latest developments in the automotive scene in China and her predictions for the future. getAbstract recommends this quick read to gearheads, tech junkies and investors interested in automotive.

About the Author

Liu Shanshan is a staff columnist at Iyiou, a news site known for its tech and business analysis, covering topics on finance and tech.    

 

Summary

In 2017, several countries – among them England, France and India – and a slew of regional governments announced plans to ban sales of internal combustion vehicles. In their wake, the Chinese government and car companies are also planning electrification and phasing out sales of conventional-fuel vehicles in the world’s largest auto market.

In 2017, automakers sold 800,000 “new energy vehicles” (NEVs) in China, up from just 10,000 five years earlier. By 2030, experts predict that Chinese car production will reach 38 million units. Of these, 40% will be hybrid or electric.

In 2017, Tencent-backed start-up Nio’s electric car famously smashed the Nürburgring lap record. Nio debuted its ES8, a sleek seven-seater prototype SUV resembling the Tesla Model X. The car comes with an exchangeable battery, and Nio offers...