G Stone Motors Inc

China Loves their Electric Cars!

The planet's largest buyer of electric and hybrid cars is China and they're making them more affordable for their citizens all the time.  With a genuine pollution problem throughout the country, significant government subsidies and growing population have carmakers looking at this country as the next front line for EVs and hybrids.

At G Stone Motors Inc, we try to keep our eyes on a world view, to find out what is happening beyond our little corner of the universe in Middlebury, VT so that is why we're sharing this with you. In Beijing and Shanghai, the Chinese government has invested billions of dollars in the electric car industry, and the average Chinese driver making a decent wage can afford an electric vehicle rather easily.

A two-door electric Chery eQ cost about $8,655 after subsidies (and $14,500 without any) in Shanghai in 2016, while General Motors' Bolt EV costs around $30,000 after a tax credit. As a result, China sells more electric vehicles than anywhere else in the entire world combined.

If it's new and cutting-edge in the world of car transportation, China is investing in them without hesitation. Huge Chinese companies such as Baidu (which is China's version of Google) are spending a ton of money to expand their manufacturing of autonomous vehicles as well.

Based on a report produced by the World Economic Forum 75% of all Chinese would willingly ride in a self-driving taxi, compared to just 50% of all Americans who would do the same. The Boston Consulting Group predicts that China will be the world's largest market for self-driving cars by 2037.

The Chinese market may seem ideal for new-tech cars and it makes a lot of sense. Pollution is an enormous problem in China, and driving in many overcrowded Chinese cities is an absolute nightmare. But that doesn't necessarily mean the demand for new, innovative technologies is enough to put safe, reliable new high-tech vehicles on the roads in this huge country.

Sale numbers of EVs and hybrids have also been dramatically propped up by governmental support at the local and national level. Beijing spends a lot of money on serious subsidies for manufacturers and researchers, making cars cheaper overall. China is also mandating foreign players to team up with local corporations in joint ventures in order to operate in China. If Chinese carmakers can attain the knowledge that is required and embracing leading technology and give foreign companies the right to sell within the country, this trend will continue and gain momentum before you can say EV!

Sources: BCC, CNN and U.S. News Report