Digitimes Research: Global electric vehicle market heating up

Hana Hu, DIGITIMES Research, Taipei 0

Mainly because Tesla has successfully boosted battery electric vehicles (BEVs) and several countries have adopted policies in favor of BEVs, global competition is increasingly intense, according to Digitimes Research.

According to Japan-based Fourin, there were 550,000 BEVs and PHEVs (pluggable hybrid electric vehicles) sold globally in 2015, hiking 70% on year, Digitimes Research indicated.

Several countries have adopted policies promoting BEVs, such as controlling carbon dioxide emissions, subsidizing BEV purchases and establishing power-charging infrastructure. Consequently, international automobile makers have strengthened development of BEVs.

Requirements on government subsidies for BEV purchases have become increasingly stricter in several countries, and this is expected to eliminate unhealthy and disordered market competition. Noteworthy is that Germany began to cooperate with automobile makers to offer EUR1 billion (US$1.061 billion) to subsidize purchases of 400,000 BEVs and HEVs.

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