Chinese investment in EVs seven times greater than Europe

Over half a million EVs were sold in China in 2017. 2018 looks set to be a record year. Photo credit – Pixabay

Chinese investment in EVs seven times greater than Europe

Chinese companies have invested equivalent of nearly 22 billion euros in electric car production in the last year.

To put this figure in context, European manufacturers have only invested 3.2 billion euros over the same period.

Over the last year, there was a 154 percent increase in electric car sales in China, meaning that over 140,000 vehicles featuring the environmentally friendly technology were sold.

Interestingly, that figure doesn’t just comprise cars. Trucks, lorries and vans are included too – meaning that as the technology evolves in China then supply chains around the world could eventually be environmentally transformed.

The news comes after we reported in March that the Chinese government has revealed plans for greater standardisation amongst electric car manufacturers and models.

Apparently, initial efforts will focus on battery design and recharging solutions, seeking common standards.

In the future, fuel consumption as well as other systems might also be considered for standardisation.

China is the undisputed world leader when it comes to electric car design and technology, and so standards implemented in the country seem likely to be adopted in other countries, too.

Rupert Reid

Pilot and Senior Broadcast Journalist at Panda Radio. You can find him on Twitter @rupertreid