China’s electric vehicle industry on the fast track21. January 2021
In China, more and more new car buyers are opting for an electric car, this speaks to the rapid development of the country’s electric vehicle industry. The production and sales of electric cars in China is equivalent to half of the global market. In September 2020, sales of electric cars sold in China grew 67 percent year-on-year. Despite being affected by the Covid 19 pandemic, many Chinese electric vehicle manufacturers increased their production and sales figures. Investors were also pleased with last year’s performance. In November, the share price of NIO, an electric vehicle startup, was close to $50, and the company’s market value was over $60 billion. This means the young company is outperforming many international established automakers.
State Development & Investment Corp Ltd. chairman Gao Guohua said Chinese brands had difficulty competing with foreign manufacturers in the past. In the meantime, however, many companies have evolved and are using proprietary software and powertrain components made domestically, Gao added. Li Bin, NIO’s founder, said they have invested about $3.05 billion in research and development since the company’s establishment, as well as the same amount in customer service and brand awareness. NIO now sells more than 10,000 vehicles per quarter.
Meanwhile, numerous high-tech and Internet companies from China teamed up with the automotive industry to promote the joint development of electric vehicles. Alibaba, the Chinese Internet giant, and Chinese automaker SAIC Motor jointly developed the Banma car operating system, which provides intelligent and connected solutions for the entire automotive industry. In the area of CCC certification of automotive parts and vehicles, Chinese requirements are particularly high. The certification of a complete vehicle is a complex project that requires professional support at all stages.
For more information on how CCC certification, the CCC Self-Declaration and voluntary CCAP or CQC certification may affect your company, or for more information about CCC certification in general, the process, and the associated costs, please visit our website and our News Section where you will find current updates twice a week.
Please do not hesitate to contact us for further details and consultation. You can contact us via e-mail, or call us (UK: +44 2071931135, Rest of Europe: +49 69 2713769150, US: +1 773 654-2673).
Please don’t hesitate to also use our chat-window in the bottom right corner if you have any questions. (Please check your browser settings if you can’t see the window)
You can also check out our free CCC-Brochure, which can be downloaded right here as a PDF file or you consult our book (in English) “A Brief Guide to CCC: China Compulsory Certification”, which can be found directly here on Amazon.