The Domestic Plastic Suppliers Greets the Rapid Development 

of China’s Electric Vehicle Market

China has transferred into the world’s largest electric vehicle market over the past two years, which led to a shift in the entire plastic supply china. Although the electric vehicle market is still small now, the sales volumn is growing rapidly, which made China’s electric vehicle sales leading the world. China’s market accounted for 40% of world’s 750,000 total sales last year. Plastic companies are concerned about this fact. 

Gero Willmeroth,the after-sale director of Engel, points out that the development of electric vehicle market is one of reasons that Engel improves the sales structure to Asia this year. The French automotive parts manufacturer, Plastic Omnium, also believes that the electric vehicle market is one of the factors for them to enter China’s market, and it plans to double its sales to 1.3 billion Euros by 2021.

Chinese government hopes the annual sales of electric vehicles will reach 2 million by 2020. The International Energy Agency reported in June that China will surpass the USand become the world’s largest electric vehicle market in 2025. If other types of vehicles were counted, such as electric buses and electric two-wheeler, China “is absolutely leading country in the field of the global transportation electrification”.

The total sales of automotive cars in China’s market were more than 28 million in the last year. The International Energy Agency reports that the number of electric vehicles worldwide is currently about 2 million, and it could reach 40 million to 70 million by 2025. Du ZhongZhi, an officer from the MIIT, said:” The market is still small, but the development potential is huge. ”