30,000 new Electric Vehicle tech companies registered in 1st quarter 2021
30,000 new energy vehicle-related companies registered in China
during the first quarter of 2021,
a 298% increase from 1st quarter 2020.
The Chinese market registered 30,000 new energy vehicle-related companies in the first quarter of 2021, Last November, the government announced the ambitions to reach 20% EV penetration by 2025 and envisions EV being dominant by 2035.
Apart from the ‘traditional’ EV car manufacturers, the new startups such as NIO and Xpeng Motors, high tech giants such as Alibaba, Huawei, Baidu, Xiaomi or OPPO have already announced their efforts to get into the EV market as well. Countless tech firms and start-ups are stepping out of their ‘comfort zones’ to participate in this already fiercely competitive market. Not only for making the actual vehicles but also for being niche specialists related to the vehicles or infrastructure.
The next years will probably witness an acceleration of EV along with autonomous driving and smart mobility infrastructures and regulations to stimulate these ambitions along with public mobility.
An exciting time.
Source, read more in : https://www.protocol.com/china/every-chinese-company-making-evs?rebelltitem=1#rebelltitem1