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Digital Provinces, Chinese Fourth Industrial Revolution (Electric/Autonomous Vehicles), Wuzhen (Zhejiang)

Chinese Electric Vehicles represent around 60% of global production and sales (at almost nine million in 2023).

 

Domestic new energy vehicles have already reached 20 million and will quadruple to 80 million by 2030 (and almost treble to 90% of overall vehicle sales).

 

NIO and Xpeng have already surpassed 100,000 electric vehicle deliveries while BYD has manufactured over one million new energy vehicles and has even eclipsed Tesla for battery electric vehicle sales.

China, led by CATL, is producing over 50% of global electric car batteries that will have a $40 billion domestic market by 2025 and capacity will over-double to 800 GWh by 2030.

Almost $50 billion investment had already facilitated by 2020 almost five million charging piles (at over 50% globally) and 12,000 charging stations that will treble to 36,000 by 2025 as part of a $19 billion electric charging equipment market.

China will establish mass applicational production of L2/L3 autonomous vehicles by 2025 facilitated by 5G-V2C sustainable infrastructure (connecting up to 40 million vehicles already by 2020) creating a $32 billion market (at 50% of overall vehicles sales).

Baidu has accumulated more than 10 million km of L4 autonomous vehicle testing with extension to at least 100 cities by 2024 including 30 for autonomous ride-hailing.

Find out more about the future of Electric/Autonomous Vehicles in Digital Provinces Guide: Countdown to the Chinese Century, Dawn of the Digital Dragon Dynasty: Countdown to the Chinese Century, and Dawn of the Digital Dragon Dynasty: Global Economy in Shop.

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