Race in electric space is on, China moves fast and West is not even close to the winners: China is a leader by declared range for Electric cars BYD, cost and controls crucial Rare Earth Elements market, Japan is very aggressive with Nissan and battery makers, France is a leader in Electric cars infrastructure.
We will refer you to our post Electric Cars: Why, When? and How? to get a full picture why Chinese companies are so active in electric cars space, here we will give just a few bullet points:
1. Chinese auto market surpassed U.S. auto market in size this year.
2. There is an estimation from UN that number of cars will increase from 600 million to 2.4 billion in coming years.
3. With a very efficient CE (Combustion Engine) mile cost you 12 cents and with EV 2.5 cents.
Question now is not whether it is worth to do it, but how to make it happen fast in US, otherwise country will lose the last competitive advantage to China - already lowest cost base producer of almost all manufactured good.
China Daily
"BAIC builds electric car manufacture base in Beijing
(chinadaily.com.cn)Updated: 2009-12-12 10:50
Beijing Automotive Industry Holding Co (BAIC) is building an electric car manufacture base in Beijing, in a bid for reinforcing its competitive edge in the promising green energy vehicle segment.
"We have just established a new company focusing on the new energy vehicles in suburb Beijing, including the whole industry chain, from research and development to the final production," said BAIC President Wang Dazong at the Eighth China Entrepreneur Summit, which was held by China Entrepreneur Magazine and China Entrepreneur Club last weekend in Beijing.
"It will be a new challenge for our group, not only in the technology, but also from huge investment and the uncertain market response," said Wang.
Many Chinese automakers are interested in developing eco-friendly, fuel-efficient vehicles.
Warrant Buffet-backed BYD Co, launched its F3DM, an electric plug-in model, last December. It plans to take its electric car to the US market late next year.
Chery Auto is set to unveil its electric vehicle QQEV at the end of this month, priced at between 40,000 yuan and 50,000 yuan.
Geely Automobile Holdings said this week that it has teamed up with Taiwan's Yulon Motor Co to produce and sell electric cars in Taiwan.
Moreover, to support clean energy vehicles, the Chinese government will provide subsidies to green vehicles in five cities selected for a pilot program.
The pilot program will then be expanded to subsidize the purchase of clean-energy vehicles for public transportation fleets in 13 to 20 cities."
"We have just established a new company focusing on the new energy vehicles in suburb Beijing, including the whole industry chain, from research and development to the final production," said BAIC President Wang Dazong at the Eighth China Entrepreneur Summit, which was held by China Entrepreneur Magazine and China Entrepreneur Club last weekend in Beijing.
"It will be a new challenge for our group, not only in the technology, but also from huge investment and the uncertain market response," said Wang.
Many Chinese automakers are interested in developing eco-friendly, fuel-efficient vehicles.
Warrant Buffet-backed BYD Co, launched its F3DM, an electric plug-in model, last December. It plans to take its electric car to the US market late next year.
Chery Auto is set to unveil its electric vehicle QQEV at the end of this month, priced at between 40,000 yuan and 50,000 yuan.
Geely Automobile Holdings said this week that it has teamed up with Taiwan's Yulon Motor Co to produce and sell electric cars in Taiwan.
Moreover, to support clean energy vehicles, the Chinese government will provide subsidies to green vehicles in five cities selected for a pilot program.
The pilot program will then be expanded to subsidize the purchase of clean-energy vehicles for public transportation fleets in 13 to 20 cities."
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