Shanghai (ZXZC)- China’s PHEV (plug-in hybrid electric vehicle) market is expected to grow in next five years and peak in 2025 with a 10-year boom, while fall from 2030 to 2035, said Ouyang Minggao, a member of the Chinese Academy of Sciences and a senior expert in new energy vehicles (NEVs), on the sidelines of the media conference about China EV100 Forum.

(Photo source: Volvo Cars)

Ouyang said currently, PHEV models are more in line with users' needs in terms of safety, price–performance ratio, convenience and residual value. As a result, the rise in the short term is consistent with the law of the market.

However, he suggested, PHEV models with 100km all-electric range (500km range in total) are not supposed to have cost-competitive advantages over battery-only electric vehicles offering 500km range in 2030. According to the expert, the BEV’s higher price–performance ratio may attract more consumers.

(Photo source: Sinopecnews.com)

In addition, the NEV expert indicated the development of hydrogen fuel cell vehicle is reasonable. The recent challenges lie in technology development and economical application and the way out is to innovate, he said. The 2020 Winter Olympics in Beijing, set to be the world's largest-scale demonstration of hydrogen fuel cells, may be a case study in that.