Kandi Technolgies Corp (KNDI)

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Electric cars see strong growth in the Chinese market

http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20141129000099&cid=1102

Staff Reporter
2014-11-29
17:41 (GMT+8)

Electric cars being assembled on production lines at a factory in Urumqi, Xinjiang autonomous region, Oct. 13. (Photo/Xinhua)

Electric cars being assembled on production lines at a factory in Urumqi, Xinjiang autonomous region, Oct. 13. (Photo/Xinhua)

China beat out the US this September in electric car sales becoming the world's largest electric vehicle (EV) market, reports Sina Auto, an auto news portal of Sina.

According to the report, there were 11,991 electric cars sold in September in China as opposed to 10,551 in the US. Among electric car models, Zhejiang-based Chinese automaker Kandi rose to second place by sales in September with its EV model while Shenzhen-based BYD entered top ten list with its Qin model.

Sales of electric vehicles have been growing on the global market. The US, Norway and other electric car pioneer markets have seen steady growth while emerging markets like China have seen rapid growth.

Subsidization policies are to be introduced in China, including electric car batteries and infrastructure improvements such as how new public parking lots must reserve sufficient space for electric cars and charging stations.

Also, China is mandating procurement of new-energy vehicles for public transportation, including buses and taxis, to make up no less than 30% of those on the road, beginning 2015. Procurement of new-energy vehicles for official vehicles, including state organs and city governments, may be no fewer than 30% all vehicles from 2014 to 2016, and that percentage will go up year by year.