The speed of sales of electric cars will be uncovered at the motor show in Geneva to be held this week. However, experts feel the switch to electric motors will undo the benefits that carmakers enjoy these days. This is because they poured billions of dollars into designing and enhancing internal combustion engines both to offer performance drivers and also to satisfy stringent regulations pertaining to pollution. So much so, it created a high barrier to entry of new players into the market.
An electric powertrain, on the other hand is much easy to produce. This is one area where relatively new players such as Tesla, which began mass production of cars just about ten years back, and Chinese carmakers are taking the lead. Around 30 companies have been identified in the electric car market.
Stringent Rules by Chinese Government to Reduce Air Pollution Promotes Market
In fact, a dekko at the major manufacturers of electric cars shows that manufacturers of electric cars are all set to topple traditional carmakers. For example, China’s BAIC holds the first place for having sold around 78,000 electric cars.
The Chinese electric car makers have all benefitted from the rules framed and implemented by the Chinese government to boost uptake of such less polluting vehicles. This is mainly to tackle the massive air pollution the nation is now faced with.
Chinese electric car makers have far surpassed their German counterparts, which are known to dominate the car market meant for the masses as well as luxury segments.