EVs in China Will Account for 40% of Sales, 50 Million Vehicles and 200 TWh Demand in 2030
GSEP member: SGCC
According to a State Grid study, the share of electricity in the transport sector of China could reach 10% in 2025, 15% in 2030 and 25% in 2040, compared to 5% in 2015.
Electric vehicle (EV) sales in China jumped from 5,600 units in 2011 to 45,000 in 2014 and 740,000 in 2016. In 2017, China’s EV production was about 770,000 and its total EV holdings about two million.
China’s electric vehicle holdings in 2030 are projected to be high as 50 million, which will lead to an annual electricity demand of 200 TWh for EV charging. According to projections by the Society of Automotive Engineering of China, the country’s car sales in 2030 will be 38 million, of which the sales of EVs will be 15 million, or 40%.
Public transportation is being increasingly electrified, with 4,500 electric buses in Beijing (and a target of 10,000 by 2020, or 60% of the total) and 16,000 in Shenzhen in November 2017, with the ambition of achieving 100% electric buses by the end of 2017.
GSEP members: SGCC,