Japanese Investment Bank Sees Rosy Outlook For Electric Vehicles In China

JUN 23 2014 BY MARK KANE 10

Tesla Model S gets Charged In China

Tesla Model S gets Charged In China

According to The Wall Street Journal, in an article entitled “China’s wealthy consumers are falling in love with electric vehicles, China is becoming a more and more attractive market for electric cars.

Japanese investment bank Nomura recently noted that it sees rising demand for both plug-in hybrids and all-electric cars. As examples, Nomure points to BYD Qin and Tesla Model S.

Due to high demand, both companies see supply shortages for batteries and a need to increase production capacity. In the case of BYD, the waiting list for Qin is at least two months.

The Chinese manufacturer hope that 2014 will be breakthrough year:

“While BYD’s outlook is rosier than in the recent past, sales remain modest. Despite a $232 million investment from Warren Buffett‘s Berkshire Hathaway Inc. in 2008, BYD has struggled for years to get China to adopt electric cars. The company said in March that it hoped to sell 20,000 electric vehicles in 2014, a big increase from some 2,000 sold last year. “New energy vehicles still have a long road ahead before mass adoption,” Nomura adds. “Hence, they are not a threat to traditional gasoline vehicles in the foreseeable future.”

Earlier this month, a BYD executive, anticipating strong sales growth, told the Wall Street Journal that 2014 “is an inflection point for China’s electric-car industry,” with cities and provinces outside the company’s Guangdong base beginning to offer subsidies for consumers to purchase hybrid cars.”

On the Tesla side, we read that demand is strong too, but as always in China, the service network and charging infrastructure are mentioned as barriers:

“By Nomura’s reading, U.S. luxury electric-car maker Tesla looks set to make headway in China as well. “Tesla has attracted strong demand from both high-income individuals and enterprise customers,” the bank wrote. Many potential customers outside of Tesla’s service areas can afford to install charging stations themselves, helping to resolve bottlenecks in charging infrastructure for the all-electric cars, according to the report.”

Source: The Wall Street Journal

Categories: BYD, General, Nissan, Tesla

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10 Comments on "Japanese Investment Bank Sees Rosy Outlook For Electric Vehicles In China"

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Chinese BEV sales through May 2014 stand at about 10,000 vehicles, This is pure EVs and not plug-ins.

Tesla has sold about 534 of its Model S in China in the first five months of this year.

Nice info.
For Tesla, it’s just over a month worth of sales (if they mean deliveries), since deliveries started on 22 April, I believe.

Where are you getting 10 000 pure EV’s from?

So far in 2014 the Tesla Model S is best selling EV Switzerland.

In Ausria it is the BMW i3.

And in Spain, it’s the Nissan Leaf.

In Norway, I think they have sold more Tesla cars than the rest of Europe combined.

The Best Selling Cars Blog has a good run=down on Norway every month.


Okay Mikael,

The appx 10,000 EVs sold in China so far this year comes from:


So not pure EV’s but EV’s + PHEV’s. I thought you knew something I didn’t. =)

Like how many Kandi-cars have been deployed this year (even though they don’t count as sales in the same way as normal). Or maybe about some local manufacturer under the radars.

A number of people have objected to Chinese EV production numbers since they might be confused with low speed electric vehicles or NEVs.

Suffice it to say, there are a boat load of NEV type vehicles on the roads in China, The government wants it stopped, etc.,

From all accounts….. illegal, “black market” vehicles like this in China number in the tens of thousands.

Here’s a link to China’s mini-cars:


Thank you. That is very interesting. China is and has been a leader in EV’s by enormous margins for a long time.
I just hope they also get into highway capable “western” style EV’s too in massive numbers.


If you are looking for local Chinese manufacturers under the radar, then check out my last reference.

Another, under the radar deal is the fact that EV statistics only cover passenger vehicles and not trucks or vans like the NV 2000e from Nissan.

Piaggio, in Italy has been quietly making electric trucks for many years. Here’s a link:


Piaggio also makes the Vespa Motor scooter.

As far as I know the statistics generally cover EV’s that are registered at cars, like most vans are.
The Renault Kangoo EV is in the statistics. And the e-NV200 will be in the statistics once they start to sell and deliver it, which should be any month now. 😉