Table of Contents
Introduction: Chinese Ev Charging Technology Innovation
The Chinese EV charging technology innovation has been making progress in recent years. The new-generation charging technology, such as high-power wireless and intelligent charging, is under development.
The Beijing-based company, Shanghai Electric Power Company, develops a wireless charging solution for electric vehicles that can automatically locate and set up the optimal charging position. It can also provide a monitoring tool to help stop charging when necessary. In June 2017, American scientists from Purdue University and the China Academy of Sciences revealed that they had developed an intelligence-driven intelligent charging system that uses a network of wireless sensors and actuators to move electric cars to the optimal parking spot following the owner’s GPS location.
Chinese Ev Chargers and Their Evolutionary Role in Electric Vehicle Industry
The Chinese EV charger market has been developing rapidly for many years, with an annual growth rate of about 30%. In 2010, the number of EV chargers was less than 10 thousand, but by 2018 it had reached 2 million.
The growth rate is expected to continue to increase in 2019. The charger market in China is dominated by two giants, LG and BYD.
The present value share of LG and BYD is around 99%. The EV charging stations for public use have been overgrowing as well.
In 2018, the number of stations reached 189 thousand, with a compound annual growth rate of 27%. The market size will reach 5.2 million by 2021.
The increased demand for electric cars is driven by the government’s policies to ” reduce emissions, promote clean energy, and fight climate change.”
The number of electric cars in use reached 500 thousand in 2018, with a compound annual growth rate of 14%. The market size will reach 1.3 million by 2020. However, there are still barriers to overcome, such as the high initial cost of electric cars and limited charging stations.
The increased demand for electric cars is driven by the government’s policies to ” reduce emissions, promote clean energy, and fight climate change.” The number of electric cars in use reached 500 thousand in 2017, with a compound annual growth rate of 14%.
Chinese Ev Chargers are the Future of The EV Industry
The Chinese government has made it a national priority to push the development of electric vehicles. The country’s Ministry of Industry and Information Technology announced by 2020, there would be 5 million EVs on the road.
This is why China is currently the world’s largest EV market. In 2017, more than 400,000 new-energy cars were sold in China, accounting for 56% of the global sales volume. In 2016, China received $4.7 billion in tax and fee revenues from new-energy vehicles. In 2017, the country’s EV market grew 23% to reach $11 billion.
According to a Bloomberg New Energy Finance report, China’s battery capacity per capita is already higher than the US and Europe’s. By 2020, the country aims to increase its battery capacity per capita from 2.8 kWh to 5 kWh.
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