By 2025, Chinese electric car sales will account for nearly 50 % of the global market

Bloomberg recently released the "2018 Electric Vehicle Outlook" report forecast that global electric vehicle sales in 2018 will exceed 1.6 million; It will reach 11 million vehicles in 2025; It rose to 30 million vehicles in 2030. China will lead the shift, with electric car sales accounting for nearly 50 per cent of the global market by 2025.

The main reason for this sales target is the lower price of electric vehicles, which the report believes will become cheaper than traditional cars within five years. In recent years, the cost of power cells for core components of electric vehicles has been declining. From 2010 to 2017, the cost of power cells has dropped by 79 %, from more than $1,000 / kWh to only $209 / kWh at the end of 2017. The cost of power batteries in 2030 may be reduced to $70 / kWh. At the same time, the energy density of power cells is also increasing at a rate of 5 % -7 % per year.

In addition, the achievement of the sales target also stems from the continued support of governments for the development of electric vehicles and the introduction of various subsidies or other policies; With the strong support of Chinese policy, by 2025 China will account for about half of the global market for electric vehicles; Carmakers are rolling out new electric models and are expected to nearly double the number of electric vehicles to 289 by 2022 from 155 at the end of 2017.

The report also points out that by the earliest next year, the cost of electric vehicles in the public sector can be reduced to the same level as traditional buses. Although electric vehicles will account for only about 28 per cent of the global car market by the end of 2020, the public sector will dominate the industry, accounting for 84 per cent of the market share.

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