China's EV-olution

As of today, China is the world’s #1 market for Electric Vehicles (EV), growing at a rate that is two times that of the US. As Electric Vehicles (EVs) in China become part of the modern consumer’s lifestyle, car manufacturers are going the extra mile to meet the needs and demands of their more sophisticated customers. China-based start-up NIO, for example, has an EV model called the ES8 which can be fully charged in just an hour using the fast-charging mode, giving it 220 miles (around 354 kilometres) of driving range.

The company which launched in 2014, has even introduced a battery rental subscription that allows users to charge or swap their batteries at power swap and charging stations. For now, NIO has only one fully functional battery swap station located in Shenzhen’s Nanshan Science and Technology Park but the company hopes to have 1,100 stations across China by 2020.

Furthermore, China’s ever-increasing number of electric carmakers are fast catching up with their Western counterparts in terms of quality and sophistication. Once seen to be of lesser quality than their foreign counterparts, domestic cars are improving by leaps and bounds. Market research firm JD Power found that in 2017, locally made vehicles encountered 13 problems per 100 new vehicles, a significant improvement from 396 problems in every 100 new vehicles in 2000. Aside from these improvements, Chinese carmakers are also exploring ways to incorporate advancements in technology. For example, NIO’s ES8 comes fitted with a built-in AI assistant which can help perform voice-activated tasks such as navigation or sending messages.

William Li, founder, chairman and CEO of NIO, believes that smart technology such as autonomous driving, AI and cloud services will enhance the driving experience in the future, and that EVs are just the first step in this technology evolution. “You have to look at ‘smart’ and ‘EV’ collectively, as EV is the most suitable vehicle for the ‘smart’ framework. On the other hand, smart technology can also enhance the experience of driving an EV,” he says.

Now, with 1.8 million NEVs already on its roads, China’s all-electric future looks bright.

link: https://www.temasekreview.com.sg/shaping-tomorrow/chinas-all-electric-future.html

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