CHINA’S ELECTRIC VEHICLE START-UPS RACE FOR LEADING POSITION
The Money mind reported that the future of the automobile industry is likely to be electric. Ang if that’s the case, then China looks sets to be a big part of the picture.
The growth of the electric vehicle has been nothing short of electrifying.
In 2010, there were 17,000 electric cars on the world’s roads. By 2019, that had grown to 7.2 million, according to autonomous inter-governmental organisation IEA.
Of all the electric cars around the world, 47 per cent were in one country alone – China. China is also home to 99 per cent of the world’s electric buses.
China is also a major manufacturer of electric vehicles, but industry watchers note that the pioneers in the market there were not home-grown names.