CBI member and international consultancy firm, Deloitte has launched a new report outlining how companies can expect to “Race Ahead” in China’s rapidly developing New Energy Vehicles (NEV) market. Titled, A Revolution in the Making – How to Race Ahead in China’s Soaring NEV Market, the report draws on Deloitte’s world-leading practise, advanced research, analytical tools, as well as insights on both existing and potential new energy vehicle consumers in China to outline 5 major trends and drivers in China’s NEV market:
- Technology Choices
- Product Differentiation
- Retail & Network Transformation
- The Competitive Landscape
- Value Chain Evolution
Deloitte China, Automotive Leader, Marco Hecker said, “The next two years will be crucial for the [NEV] industry in China, as the NEV market is transitioning from being policy driven to market led. The industry is set to usher in Era 2.0, with highly market-orientated, differentiated NEVS. New retail models, intelligent technologies and the Internet of Vehicles (IoV) are reshaping the NEV value chain.” The report predicts that battery electric vehicles will dominate the passenger vehicle market and lead NEV development with fuel cell vehicles; smart, connected functions and human-centric design being the key differentiators within the NEV market. These will overtake hard features such as e-range and charging convenience as the primary factors in purchase decisions.
To read the report in full, please follow the link.
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