Forecasts：Sales of alternative energy cars to hit 200,000 this year in China

The sales of electric cars in China is expected to surpass 200,000 units this year and may even hit a new record of 220,000 units, according to Yanlong Liu, General Secretary of China Industrial Association of Power Sources(hereinafter referred as CIAPS).

According to Liu’s analysis, it is possible that the sales of electric cars may reach 400,000 units next year, considered the number of existing electric cars in China and other factors.

The increasing sales of electric cars in China is partly due to China’s supportive policies. Liu said, China has introduced many preferential policies in the promotion of electric cars. Local governments at all levels certainly will bring more alternative energy cars into the markets so as to get more supports from the central government.

The sales of power cells is also on a rapid increase. According to the statistics from CIAPS, in the year of 2014, the sales of power cells in China totaled¥12 billion, including ¥10 billion in the field of electrical cars and ¥0.2 billion in electrical bicycles. For the first 9 months of 2015, the sales has already reached ¥20 billion and is expected to total ¥25 billion by the end of this year.

According to the statistics from CIAPS, Liu said, BYD, which is also a Chinese car company, is the largest Chinese power cells manufacturer, contributed by the large demands of power cells from this carmaker’s car products. Besides BYD, other Top 4 leading Chinese power cells manufacturers are CATL, Lishen and Guoxuan.