Shanghai (ZXZC)- In 2018, China will see a faster developing pace of NEVs. What's more, it will also deploy electric, hybrid and fuel cell vehicles simultaneously to lead the global fashion in transportation area. Although hydrogen fuel cell EVs now only take up less than 1% of the global market shares, it develops increasingly fast. Globally, China is among the very few countries which deploy electric, hybrid and fuel cell vehicles simultaneously.

According to newly-released data from China Passenger Car Association (CPCA), the global deliveries of new energy passenger vehicles reached 1,217,500 units in 2017. Notably, Chinese new energy passenger vehicles took up 47% of the global deliveries to 576,000 units. Moreover, almost all NEV technology routes have been put into practice in China. According to the statistics, China vehicle market posted a growth of 68%, while the global average growth rate was 60% in 2017.

Globally, American NEV market saw slow growth, while Japanese and Korean NEV market enjoyed robust sales growth. And European also posted NEV sales growth rate of around 50%.

Strikingly, BYD took the sales championship with deliveries of 113,700 units. BAIC BJEV ranked second among the top ten automakers with 2017 deliveries reaching 103,200 units.

Without doubt, NEV subsidies contributed quite a lot to the development of Chinese NEVs. The total amount of subsidies reached RMB 160 billion for the latest decade.