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ARTICLE · 11 JANUARY 2019

Electric Vehicle Tipping Point

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

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For the first time ever, electric vehicle (EV) sales growth is surpassing internal combustion engine (ICE) vehicle sales growth in China.

United StatesTransport
Sahir Surmeli
Sahir Surmeli
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For the first time ever, electric vehicle (EV) sales growth is surpassing internal combustion engine (ICE) vehicle sales growth in China. After ICE vehicle sales grew by 3 million in 2016, sales of ICE vehicles grew by 600,000 in 2017 and just 50,000 in 2018. At the same time, EV sales and production skyrocketed. According to the China Association of Automobile Manufacturers, EV sales grew 81 percent year on year in the first nine months of 2018. Over the same time period production rose to 734,600 units, putting China on pace to sell over 1,000,000 EVs in 2018. With total vehicle sales just over 29 million, EVs have captured a significant portion of the market and are trending upwards. This development indicates that ICE vehicle sales growth in China may have peaked and China may have reached a tipping point in EV sales.

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