BMW eyeing China as top EV market within five years

May 28, 2014
BMW is reportedly betting on China to become the top market for electric vehicles by the end of the decade.

The Chinese government is currently well behind in its goals to reach a half million alternative-energy vehicles in the country by 2015, however BMW and other automakers expect additional charging infrastructure and tighter regulations to quickly accelerate the pace of EV adoption.

“We expect that the Chinese car market for electro-mobility will become the largest markets for those cars in a few years,” said BMW’s China head, Karsten Engel, at an event in Shanghai to promote the company’s collaboration with the city’s power provider, according to quotes published by Bloomberg.

A separate report this week describes China’s plan to scrap approximately 11 million older vehicles to help mitigate the growing smog problem. The government will also require gas stations in certain cities to only sell the cleanest gasoline grade.

Shanghai’s State Grid power company has committed to expanding charging stations, which will be built in 46 areas around the city by the end of the year. The sites will be compatible with plug-in vehicles from all major brands, including BMW’s own i3 as it arrives in the local market this September.

Despite BMW’s optimistic forecast for the Chinese market, the company has only allocated 1,000 i3 EVs for the market this year, representing a small fraction of its overall sales in the country. Nonetheless, the company expects to eventually increase shipments to accommodate the expected jump in demand.

We are coming with our [electric vehicles],” Engel said. “Others are coming as well.”

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