China Helped Doubling Global EV Sales In Q2 FY2018

Global electric vehicles sales grew by 63% in second quarter of current FY compared to same period last time

China is certainly the biggest auto market in the world at present. The country has also become the largest EV market in the world. In the second quarter of current financial year, China helped in doubling the global EV sales compared to the same period in last fiscal. The global EV sales grew by 63% in the Q2 of current fiscal compared to same period in last FY.

The global EV sales increased by 23% compared to the second quarter of current calendar year. Interestingly a major chunk of these EV sales is attributed to Chinese market. Chinese government is very keen to curb the alarmingly higher pollution level in the country. This is why the country is focusing on introduction of electrified vehicles in the country, specially zero emission pure electric models.

tesla model s p100d

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Sales of battery powered vehicles have been doubled in China in recent past and that is contributing to more than half of the total global sales of electric models. To encourage the buyers to purchase zero emission models, Chinese government is offering great subsidies. Also, localised productions of the electric vehicles are being encouraged.

Interestingly, sales of the electrified vehicles are increasing significantly in recent past. As the governments around the world are continuously emphasising on greener mobility, auto manufacturers too are working on the electric vehicles. Also, concerns regarding the pollution are increasing among the general buyers. All these factors are working in favour of electric vehicle sales.

Tesla Model X

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Interestingly, India is also rushing towards adopting pure electric mobility by 2030, under the government’s Mission EV 2030 strategy. Recently government agency EESL has ordered a massive fleet of 10,000 electric vehicles that will be used by several government agencies and ministries. While Tata Motors have been awarded with 60% of the total order, Mahindra bagged the remaining 40% of the tender.