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49 new models Chinese electric cars hit global market in 2020

Tinuku ~ Dozens of electric car models from China will hit global markets by 2020. Research by AlixPartners says Chinese carmakers are projected to produce 49 of the 103 new electric car models to be launched globally by 2020 in an effort to accelerate source switching power vehicles from fossil fuels to batteries.

Tinuku 49 new models Chinese electric cars hit global market in 2020

US business consulting firm AlixPartners said China also plans to hold two-thirds of the total lithium-ion battery production capacity by 2021 and investment to boost domestic auto sales as the world's largest car market today.

AlixPartners said Chinese carmakers control 96 percent of electric vehicles sold in the country. The automaker sold about 350,000 electric vehicles in China by 2016, but that number is less than two percent of total vehicle sales.

By 2025, the cost of producing electric cars close to the cost of production of internal combustion engine cars and lower battery manufacturing costs will help increase consumer acceptance of electric cars.

AlixPartners' vice-chairman John Hoffecker told reporters in Detroit another factor driving the sale of electric cars was a significant reduction in battery time. This technology is very important to convince consumers who are reluctant to switch to electric vehicles.

On the other hand, AlixPartners warned not all of the around 50 companies that are racing to develop electric and autonomous cars will complete the project thoroughly. Hoffecker said "it is impossible to believe there will be 50 successful successful vehicle companies".

In the United States, AlixPartners says carmakers compete with funding investments from leading technology companies such as Apple Inc. and Alphabet Inc. Moreover, manufacturers of cars and light trucks are experiencing a declining sales cycle.

AlixPartners predicts sales of cars and trucks in the US will drop to 15.2 million vehicles by 2019 or drop 13 percent from peak sales in 2016. Other analysts also predict a decline in vehicle sales over the next two to three years.

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