EV sales to comprise 11% of total by 2020


KPMG sees China electric vehicle sales up, but Tesla lags

Not so popular in China

Not so popular in China Image: Stephen Shankland

A recent survey from 'Big Four' accounting firm KMPG predicts electric vehicle, hybrid, battery cell and fuel-cell units will comprise between 11% and 15% of China's vehicle market in the next ten years.

The survey asked automotive industry executives which major changes to the auto sector they envisaged happening in the near future. Almost 70% of respondents highlighted EV sales as a rising trend.

According to KPMG China partner and head of automotive, Danny Le, the Chinese government and auto industry have "high hopes" that e-vehicles will catch up with traditional combustion engine technology and will help China "leapfrog" rivals in this marketplace.

However, not everyone is as optimistic about China's EV market. Tesla, one of the most popular EV makers in the West, reported "unexpectedly weak" fourth quarter sales across the country last year. The company sold just 120 cars in China in January, falling well short of its aggressive sales targets.

Elon Musk, the company's enigmatic founder, had predicted global sales would reach 50,000 units in 2020, while another executive forecast China would contribute between 30-35% of the company's growth last year.