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.
Content from this article was part of a complete Digitimes Research Chinese-language report that has not yet been translated into English. If you are interested in an English version of the report or wish to receive more information about the report, click here to contact us and we will get back to you as soon as possible. Digitimes Research also provides quarterly tracking services for market sectors such as China Smartphone, China Smartphone AP, Taiwan ICT and Taiwan FPD. Click here for more information about Digitimes Research Tracking services.