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– ASIA Electric Vehicle –
Due to looming environmental concerns including pollution and traffic congestion in Asia, a large focus is now on the Asian market with 56% of EV sales coming from East Asia and 37% of Southeast Asia open to EV purchase. As a result, governments in the region including Singapore, Malaysia, Thailand, Philippines and Indonesia, are pushing for EV initiatives as a more energy-efficient, cost-effective and sustainable solution in public and private transport.
However, challenges such as establishing EV-ready infrastructure, low uptake of EVs due to consumer concerns and the slow electrification of mass transport still stand in the way of actualising full-scale EV adoption. How can we resolve consumer adoption concerns and realise returns on infrastructure investments to quicken EV adoption?
Back in its third edition, IQPC’S Electric Vehicles Asia Summit returns in 2020 to navigate roadblocks and maximize opportunities for Asia’s EV market by ensuring EV-ready infrastructure, addressing consumer concerns to increase demand and driving mass e-mobility. The conference will feature the latest insights and generate excellent networking opportunities with leading regulators and associations, vehicle OEMs, power utilities, independent charging station operators, ride-sharing and transport companies, fleet operators and battery and technology solution providers.
The largest market and production location for electric vehicles 56% of the value of sales of electric vehicles is and will remain in East Asia and cars only account for about half of the value of the electric vehicle business worldwide. It is therefore important to look at the big picture and, in particular, the latest ten year forecasts for EV activity in East Asia. Uniquely this report provides that information. Entirely researched in 2010 and regularly updated, the report draws many valuable conclusions including some that are summarised below.
China buys over 90% of the e-bikes in the world and Japan buys the most hybrid cars. Indeed the best selling electric car in the world, the Toyota Prius, sells in Japan at twice the volume taken by the whole of the USA. All this will have changed by 2022 because China will have installed adequate charging infrastructure for pure electric and plug in hybrid cars by then and they will be more affordable. In 2022, sales of electric cars in China will have a much larger market value than the huge and growing sales of e-bikes in China. It is fortunate that the takeoff in sales of electric cars is delayed in China by lack of infrastructure and shortage of affordable electric cars with acceptable range. If Chinese people purchased a large number of plug in electric cars over the next five years it would significantly increase global warming because today, most of the power stations in China are inefficient and coal fired.