China New Energy Vehicle (NEV) Taxi Market Forecast And opportunities Trends, SiPosted by akshayparmar on November 17th, 2017 China New Energy Vehicle (NEV) Taxi Market (By Ownership (Company-owned NEV Taxis and Privately-owned NEV Taxis), By Range (Short Range NEV Taxis and Long Range NEV Taxis) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025, the china new energy vehicle taxi market is expected to expand at a double digits CAGR during the forecast period 2017 to 2025. View Full Report with TOC @ http://www.acutemarketreports.com/report/china-new-energy-vehicle-nev-taxi-market
Market Insights: New energy vehicles are very crucial to the economic development in China since they reduce the country’s dependence on foreign oil by curbing the overall fuel consumption. Government support in form of incentives as well as subsidies has been instrumental in driving the uptake of new energy vehicle taxis in the country. For instance, the ‘Ten Cities- Thousand Vehicles Program’ started by the central government and few other plans focusing on the emission control bodes well for the market growth. Competitive Insights: The new energy vehicle taxi market in China is highly consolidated. The leading three new energy vehicle taxi manufacturers account for around two-third of the overall market revenue. BYD Motor Company, Anhui Jianghuai Automobile Co., Ltd (JAC Motors), and Beijing Automotive Industry Holding Co., Ltd. (BAIC) are identified as the leading new energy vehicle taxi manufacturers in China. Other promising and emerging players identified in the China new energy vehicle taxi market include China FAW Group Corporation, Dongfeng Nissan Passenger Vehicle Company, Zhejiang Geely Holding Group Co., Ltd., ZAP Jonway, Inc., Analyst View: In spite of the government initiatives, the new energy vehicle taxi market in China did not receive the necessary push in the early years. This had majorly to do with the local protectionism that prevented healthy competition from international and non-local new energy vehicle taxi manufacturers. However, new energy vehicle taxi manufacturers like BYD Company have shown intent to breach local protectionism. China’s aspiration to become a global leader in new energy vehicles by 2022 would require a transformation in expectations and approaches adopted by stakeholders across the electric vehicle value chain.
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