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Electric cars to fuel auto trade, says commerce ministry

2020-01-06    Author:   Views:443    

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Technological gains are to boost demand for new energy vehicles globally, predicts report

China's exports of new energy vehicles will grow fast in coming years as they are on track to gain popularity in major car markets, said the Ministry of Commerce.

"Their exports stand a good chance of continuing the momentum and will become a new force that contributes to the steady growth of China's auto trade," said the ministry in a report on high-quality automotive trade released last week.

Statistics from the China Association of Automobile Manufacturers show that exports of China's new energy vehicles in the first half of 2019 grew 99.3 percent year-on-year.

The report said electric buses from BYD accounted for 20 percent of the market in Europe and more than 60 percent in the United Kingdom in 2018. Those from Chinese brands were the most popular in South Korea.

The situation will further improve as major markets are championing new energy vehicles and China is a leading player in the segment, said the report.

China started to finance the new energy vehicle segment since 2009. It overtook the United States as the largest market for such vehicles in 2015.

During June 22-24, International Fastener Show China specially set up special areas for Automobile & High-strength Fasteners Zone, Export-oriented Fastener Zone, Stainless Steel Fastener Zone, Comprehensive Fastener Zone and Branded Fastener Zone. 320+ fastener machinery companies from home and abroad get in the show. 480+ fastener companies actively display products during this three-day show.

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