In July, EVs surpassed 50% of China’s new vehicle sales for the first time, and in August the same trend continued with EVs representing 54% of all vehicle sales. However, a hostile international market and growing domestic overcapacity require Chinese EV companies to think ahead and find new customers.
Is the rural area a potential solution for those private EV enterprises?
Looking into the risks and opportunities, combining the response from both the private sector and policymakers, the question seems like a matter of “when” not “if”.
At 500 million people, China’s rural market is bigger than the entirety of the EU’s, explains Cory Combs, associate director at Trivium China, a Beijing-based research group. “If any brand were to tap that potential, the opportunity is huge.”
Check out this great analysis from Dialogue Earth👇
https://dialogue.earth/en/business/a-rural-remedy-for-chinas-ev-slowdown/
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Collaborating with other countries on green trade agreements that promote low-carbon technologies and sustainable practices will help China navigate global market changes.
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While China has set the pace, future success will depend on its ability to adapt and innovate in an evolving global landscape.
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