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the slowest adopting group of provinces in China sees strong EV uptake","even-the-slowest-adopting-group-of-provinces-in-china-sees-strong-ev-uptake","article/even-the-slowest-adopting-group-of-provinces-in-china-sees-strong-ev-uptake",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":713,"featured":50,"reporter":714,"_editable":718,"component":719,"seo_title":553,"categories":720,"visibility":730,"author_company":49,"data_vis_image":731,"featured_image":735,"seo_description":713,"author_full_name":49,"author_job_title":49,"formattedDate":738,"formattedArticleDate":739},"196a36ae-b563-47bb-ae20-0bcf34859927","2025-03-14 00:00",[560,563,566,569],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"data-visualisation","Data Visualisation",{"slug":567,"name":568},"ev-demand","EV demand",{"slug":570,"name":571},"policy","Policy",[573],{"slug":574,"name":575,"content":576},"didi-bostock","Didi Bostock",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Editor - Energy Transition & Economics",{"filename":579},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":583,"content":584},"doc",[585,610,623,628,640,647,652,657,662,670,675,680,685,693,698,703,708],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589,592,600,602,608],{"text":590,"type":591},"Electric vehicle uptake across China is higher than much of the West, with even the slowest adapting group of provinces seeing penetration rates of 29% in 2024, according to an analysis by ","text",{"text":593,"type":591,"marks":594},"Benchmark",[595],{"type":596,"attrs":597},"link",{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":599},"https://www.benchmarkminerals.com/forecasts","url",{"text":601,"type":591}," and ",{"text":603,"type":591,"marks":604},"Rho Motion",[605],{"type":596,"attrs":606},{"href":607,"uuid":49,"anchor":49,"target":49,"linktype":599},"https://rhomotion.com/about-us/",{"text":609,"type":591},".",{"type":586,"attrs":611,"content":612},{"textAlign":49},[613,615,621],{"text":614,"type":591},"This compares to penetration rates of 21% and 10% in ",{"text":616,"type":591,"marks":617},"Europe",[618],{"type":596,"attrs":619},{"href":620,"uuid":49,"anchor":49,"target":49,"linktype":599},"https://source.benchmarkminerals.com/article/eu-more-than-halves-proposed-imports-duties-on-tesla-evs-made-in-china?_branch_match_id=1544412786244733488&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWdw%2BKcLZwzinI9U%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAEY8ggUgAAAA%3D",{"text":622,"type":591}," and the US.",{"type":586,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":591},"Policy initiatives, competition and availability of low priced EVs all contribute to China’s success at ensuring all its provinces benefit from strong EV uptake, according to Zoe Zhang, a research analyst at Rho Motion.",{"type":629,"attrs":630},"blok",{"id":631,"body":632},"6a75c830-84cc-4ab1-89a6-47419e295245",[633],{"id":634,"_uid":635,"type":636,"_editable":637,"component":638,"fixed_height":639,"use_fixed_height":50,"fixed_height_mobile":639,"fixed_height_tablet":639},"22097571","i-102d9aae-2a9e-4171-8d7f-86b94fc4c828","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-102d9aae-2a9e-4171-8d7f-86b94fc4c828\", \"id\": \"\"}-->","ContentFlourish","",{"type":641,"attrs":642,"content":644},"heading",{"level":643,"textAlign":49},4,[645],{"text":646,"type":591},"China’s trade-in policy boosts EV uptake",{"type":586,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":591},"In April 2024, China initiated a policy in which buyers of a new EV could trade in their older car in exchange for a subsidy of between RMB7,000 and RMB10,000 to boost its fledgling consumer demand.",{"type":586,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":591},"The subsidy amount doubled in August 2024, and at the start of this year was extended with the range of cars eligible for the scheme widened.",{"type":586,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":591},"Since China ended its broad ranging EV subsidies in 2022, this trade-in scheme is the last country-wide scheme financially incentivising EV purchases.",{"type":629,"attrs":663},{"id":664,"body":665},"5f484143-4642-4453-a03d-f7866d15cfa5",[666],{"id":667,"_uid":668,"type":636,"_editable":669,"component":638,"fixed_height":639,"use_fixed_height":50,"fixed_height_mobile":639,"fixed_height_tablet":639},"22114028","i-ec6b5414-7682-4398-984a-9ce36386b08f","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-ec6b5414-7682-4398-984a-9ce36386b08f\", \"id\": \"\"}-->",{"type":586,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":591},"The greatest increase in penetration rates was seen in the so-called D Provinces which include Tibet, Heilongjiang and Gansu. These provinces have challenging environmental factors such as very low temperatures and mountains which typically slow EV uptake.",{"type":641,"attrs":676,"content":677},{"level":643,"textAlign":49},[678],{"text":679,"type":591},"EVs in China are at price parity with ICE vehicles",{"type":586,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":591},"China’s well known subsidisation of EV manufacturers, along with high competition from the country’s many automakers has driven down EV prices.",{"type":629,"attrs":686},{"id":687,"body":688},"3c182cd5-59ec-41c9-b58b-ae9e9c9ffcdd",[689],{"id":690,"_uid":691,"type":636,"_editable":692,"component":638,"fixed_height":639,"use_fixed_height":50,"fixed_height_mobile":639,"fixed_height_tablet":639},"22113695","i-8e7c3ba8-9386-438b-bf03-5d3456e7973a","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-8e7c3ba8-9386-438b-bf03-5d3456e7973a\", \"id\": \"\"}-->",{"type":586,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":591},"This, coupled with the trade-in policy, boosts the attractiveness of purchasing an EV to Chinese consumers even in the country’s poorer provinces.",{"type":586,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":591},"“The cheaper EV is mainly down to competition within the country,” Zhang said. “There are so many OEMs in China and they’re really trying to compete with each other.”",{"type":586,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":591},"Beyond lowering the price, competition between automakers also increases the range of features available in these lower price vehicles.",{"type":586,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":591},"“We see a lot of news regarding how much automakers are going to invest in making the EVs more intelligent,” Zhang said. “BYD announced that they’re going to make their cars more intelligent, more autonomous, down to even their cheaper priced cars.”","Electric vehicle uptake across China is higher than much of the West, with even the slowest adapting group of provinces seeing penetration rates of 29% in 2024, according to an analysis by Benchmark and Rho Motion. This compares to penetration rates of 21% and 10% in Europe and the US. Policy initiatives, competition and availability […]",[715],{"slug":574,"name":575,"content":716},{"job_title":577,"image":717,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"196a36ae-b563-47bb-ae20-0bcf34859927\", \"id\": \"\"}-->","article",[721,724,727],{"slug":722,"name":723},"batteries","Batteries",{"slug":725,"name":726},"ev","EV",{"slug":728,"name":729},"geopolitics","Geopolitics","private",{"id":49,"alt":639,"name":639,"focus":639,"title":639,"source":639,"filename":732,"copyright":639,"fieldtype":733,"meta_data":734,"is_external_url":51},"https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1741966255/www-production/Chinese-penetration-rates@2x-3/Chinese-penetration-rates@2x-3.png?_i=AA","asset",{"alt":639,"title":639,"source":639,"copyright":639},{"id":49,"alt":639,"name":639,"focus":639,"title":639,"source":639,"filename":736,"copyright":639,"fieldtype":733,"meta_data":737,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/4111766412/bm-electric-vehicle-china.jpg",{"alt":639,"title":639,"source":639,"copyright":639},"Mar 14, 2025","14th March 2025",[],[],1789748837451]