China has become the global leader in the field of electric vehicles (EVs), as it accounted for over 50% of the new EVs sold worldwide in 2022, with sales of 5.37 million. EVs made up around 20% of China’s new car sales last year. Chinese EV companies are experiencing explosive growth in demand from around the world, thanks to their technological prowess and high-quality offerings. One such example is the British-originated brand MG, which is now owned by the Chinese automobile conglomerate SAIC. Its sales abroad have been rising over the past two years. In 2022, BYD, the largest Chinese EV carmaker, introduced three new EV models in Europe and Asia-Pacific, while NIO, one of the leading Chinese EV brands, expanded its business to multiple European countries.
Chinese enterprises are developing innovative technologies for electric vehicles (EVs) that focus on satisfying consumer demand for comfort and convenience. The highlights of these advancements include the use of smart controls for the driver and passengers’ comfort, and more efficient batteries or charging techniques to increase the range of the vehicle.
Chinese EV owners are experiencing advanced car controls, which enable them to save significantly on energy costs compared to gasoline-powered cars. For instance, they can turn on the air conditioning from their mobile phones minutes before entering the vehicle, ensuring maximum comfort during extreme weather conditions. Furthermore, users can set a preferred battery charging level, and the charging process will stop automatically once that level is reached.
Leading Chinese Smart EV company, XPeng, has introduced a remote parking feature called “Valet Parking Assist,” which enables drivers to control their vehicles using smartphone applications at low speeds. This feature gives users an experience similar to a car video game or a James Bond movie.
Chinese carmakers also provide luxury interiors in their EVs, with voice-activated controls that immediately cater to passengers’ requirements. Passengers can use voice commands to adjust the AC, change temperature, play their favorite songs, open the windows, and perform other functions inside the vehicle.
The EV industry owes its rise to advancements in battery technology and the expansion of battery recharging systems. Most of the world’s leading EV battery manufacturers operate in China, with lithium battery output reaching 750 GWh in 2022, a year-on-year growth of 130%, of which about 40% (295 GWh) was used on EVs.
Contemporary Amperex Technology Co. Limited (CATL), the world’s largest battery producer, is a game-changer in the industry, with battery packs from CATL being used in almost all EV companies, becoming the industry’s standard.
China has invested heavily in building the most robust recharging network to ensure the driving range of electric-powered cars. As of the latest data, there were 5.2 million EV recharging facilities, almost double from a year ago.
NIO has introduced an innovative recharging method called “battery swaps.” NIO car owners can replace their empty batteries with a fully charged one in just five minutes, rather than wait for the long recharging process. These battery swap stations provide an efficient and convenient solution for EV owners who need to recharge their vehicles quickly.
The Chinese government has played a significant role in promoting the growth of the country’s EV industry. In recent years, the government has implemented various measures to encourage the use of new energy vehicles, all within a larger framework aimed at achieving the country’s “carbon peaking and carbon neutrality goals.” By 2030, China aims to reach its carbon emissions peak, followed by carbon neutrality by 2060.
To support this goal, the Chinese government has implemented tax-free policies for EV buyers, waiving the 10% vehicle purchasing tax for electric vehicles. Furthermore, EVs enjoy unrestricted mobility in many Chinese cities that have imposed restrictions on gasoline-powered vehicles, such as Beijing.
As the world enters a new wave of technological revolution, there is a growing trend towards increasing electrification, internet connectivity, and the application of smart technologies in the automotive industry. These trends are expected to have a defining effect on the industry in the coming years.
Many analysts predict that electric vehicles (EVs) will become the mainstream in the auto market. With the advancements in battery technology and the expanding charging infrastructure, EVs are becoming increasingly practical for everyday use, and their popularity is expected to grow as they become more affordable and accessible to consumers.
Moreover, the integration of smart technologies such as voice-activated controls, remote parking, and advanced driver-assistance systems (ADAS) is transforming the driving experience, making it more convenient and safer for drivers and passengers.
Overall, the automotive industry is poised for significant changes in the coming years, driven by the increasing adoption of electrification, connectivity, and smart technologies, with EVs at the forefront of this transformation.