EV Boom Creating a Green Future

Parallel to the robust development of China's modern industrial system, the country's electric vehicle (EV) industry has shown an upward growth trajectory, not only achieving significant progress in the domestic market but also attracting attention worldwide with its competitive advantages.

The development of the EV industry is helping to create a sustainable future for the world by promoting green transformation and sustainable transportation systems.

Tech innovation

China has made significant breakthroughs in core technologies such as batteries, motors, electronic controls, intelligent systems, and their efficient production and assembling.

In terms of battery technology, China possesses leading battery manufacturing capabilities and R&D capabilities. The rapid development of intelligent technologies, smart systems and energy storage technologies have injected vitality into EV industry.

With the continuous maturity of technologies, such as autonomous driving, AI and intelligent control systems, China is continuously integrating more smart functions and improving the intelligence, safety and standard level of EVs.

In response to market demand, the Chinese government has introduced a series of policies to encourage the development of EVs, such as the construction of charging infrastructure, and promotion of EV adoption for green development.

At the same time, with an increased awareness of environmental protection and more convenient charging facilities, the demand for EVs in the market is also constantly expanding.

Comprehensive industry chain

The industry chain of EVs in China has formed an all-round development pattern from raw material supply, R&D, component manufacturing, vehicle assembly, to sales and services by effective integration of management, innovation and planning.

In upstream, China possesses the world's largest value chain in the battery manufacturing industry, covering the mining and refining of battery materials such as lithium, cobalt and nickel, while the midstream gathers the research and production of key components such as batteries, motors and electronic control systems. In downstream, the efficient supply chain integration capability enables China's EV industry chain to flexibly respond to changes in market demand, reduce production time, achieve rapid response and efficient collaboration.

Such advantages enable China's EV companies to expand their overseas markets by actively engaging in the global market and standards, driving the global value chain of the EV industry toward win-win cooperation.

For example, Geely joined the United Nations Global Compact in 2022 and formulated its strategic goal of achieving full-chain carbon neutrality by 2045. In addition, many popular brands, such as BYD, Li Auto, XPeng and Nio, have shown their potential for design, smart functionalities, price, quality and service in both domestic and global markets.

Such engagements help China's EV companies not only to pursue commercial success, but also make contributions to global sustainable development.

Leveraging the consolidated power of modern manufacturing systems, technological advancements, and supply chain, China's EV industry maintains strong growth.

In November, China's annual production of EVs exceeded 10 million units, becoming the first country in the world to achieve this milestone. Its growth rate far exceeds that of traditional fuel vehicle market, indicating the increasing popularity of EVs among consumers, demonstrating the strong momentum of China's EV market.

The revolution of China's EV industry has achieved significant outcomes. In the future, with the continuous advancement of technology, China's EV industry is expected to make greater contributions to achieving the green transformation of the global automotive industry.

Dr. Md Altab Hossin is a Bangladeshi foreign expert at the School of Innovation and Entrepreneurship, Chengdu University

Source: Science and Technology Daily