Venson

Chinese Battery Electric Vehicle Power

This Venson Automotive Solutions white paper explores the greatest disruptive force in global manufacturing: Chinese battery electric vehicle (BEV) power.

According to the Society of Motor Manufacturers & Traders (SMMT), 314,687 new BEVs were registered in the UK in 2023, an increase of almost 50,000 on the previous year. However, their annual market share dipped very slightly from 16.6% in 2022 to 16.5% last year, leading to accusations of stalling progress. The direction of travel seems clear though. We’re a world away from the rather pitiful 1.4% of 2017, and the SMMT emphasises that this electrification has been “driven entirely by fleet investment”, propelled by “compelling tax  incentives”. SMMT Chief Executive, Mike Hawes, said: “With vehicle supply challenges fading, the new car market is building back with the best year since the pandemic. Energised by fleet investment, particularly in the latest EVs, the challenge for 2024 is to deliver a green recovery.” Within this battery electric revolution is a fascinating and far-reaching new megatrend: Chinese BEVs have achieved incredibly high penetration, described variously in the UK media as a “flood”, “influx” and “invasion”. We call it Chinese BEV power, a twist on the nineteenth century British sea power. The bottom line, as highlighted by The Guardian in September 2023, is that China’s share of the European electric car market had more than doubled in less than two years.

This Venson white paper will introduce you to the biggest and best Chinese BEV brands, profile key models, and predict the likely  implications for UK fleets and the wider automotive industry.

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