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Download Report

THE ROAD TO SUCCESS IN CHINA'S ELECTRIC VEHICLE MARKET

The automotive future is electric – but not just. What appears at the surface to be a mere switch from traditional fuel-based powertrain to electric technology – New Energy Vehicles – is in reality the begin of a substantial change of the role that the car plays in people’s lives. In essence, the car changes from a ‘means of transportation’ to an ‘enabler of individual mobility’.

Nowhere can this transformation be observed more impressively than in China. Within a short period of time, mainland consumers have converted from rather traditional status-oriented buyers to trailblazers of digital adoption. They are being courted by a plethora of players in the market, from legacy car makers to new startups to tech companies entering the field.

China’s market for electrified passenger vehicles, notably Battery Electric Vehicles (BEV), has passed the tipping point where government’s push through stimulus measures has resulted in a consumer demand pull that is expected to drive steep growth in the future. As the world's largest BEV market moves into the mainstream, sustainable success has become nothing less than an existential question for all market participants. This white paper, the first in a series of quarterly white papers in the course of 2022, considers the opportunities and challenges in this already highly competitive BEV market and shows actionable steps for stakeholders to successfully align their marketing strategies to the needs of prospective customers.

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