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China ‘can still lead’ electric vehicle sector

China ‘can still lead’ electric vehicle sector
Updated: 2012-04-20 21:47

By Li Fangfang (chinadaily.com.cn)
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Despite lackluster sales of electric vehicles in China, the nation may still become a global leader in the electric vehicle industry if policymakers and manufacturers shift their focus from battery-electric vehicles toward a mid-term perspective focusing on plug-in hybrid electric vehicles, said global management consulting firm McKinsey & Co.
The US company’s prediction came in its report Recharging China’s Electric Vehicle Aspirations released on Friday, based on interviews with more than 30 policymakers, industry leaders and academic experts.
“Despite challenges and initial setbacks, electric vehicles are here to stay in China, as a better solution to solve China’s energy and pollution challenges,” said Axel Krieger, partner in McKinsey’s Beijing office and leader of McKinsey’s China Auto Hub. “Moreover, as there is no shortcut to battery electric vehicles, plug-in hybrids can be the right bridge to the long-term goal of pure electric vehicles’ take-off.”
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