According to a statement from China Association of Automobile Manufacturers, electric vehicle manufacturers will operate with an average of 80 per cent of their total annual production capacity in 2019-20. The group projected that the industry will ship about 1.6 million to 1.7 million EVs in the market in 2019 while the actual annual EV capacity will hit 2 million in 2019.
China’s EV production capacity is projected to reach 2.5 million while annual sales would exceed 2 million, CAAM said. Despite the quickly mushrooming EV startups across the country in last 2/3 years, most of them are going to start mass production only after three years or later than that, the group added.
According to the industry association’s data, in 2018, China managed to sell out all the EVs that were produced.
In 2018, China’s electric vehicle output jumped 43 per cent to reach 1.27 million cars and light trucks. Electric vehicle sales surged about 62 per cent to roughly 1.26 million in the same year. About 78 per cent of the electrified vehicles produced last year were complete electric vehicles while the rest were plug-in hybrids.
China’s aluminium sector that is relying heavily on the growth of EV segment will have to wait for another three years for an optimum consumption of its automotive aluminium products designed to cater to EVs and its charging infrastructures.
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