China has already captured more than 40% of the global electric vehicle market, and this is only the beginning

China becomes the world's leading automobile power, and this applies to both conventional cars and electric vehicles.

In August, the number of new electric cars sold in China increased by 68% compared to the same month last year, according to MINING.com. But the most interesting thing in the Chinese car market is a constant increase in their share in sales.

Last year, cars with electric motors accounted for 1.5% of the car fleet in China, but this year their share increased to 1.8%. The Chinese will continue to gradually abandon the machines with internal combustion engines, and by the end of next year the share of electric vehicles can reach 2% and even 2.5%.

And if you add hybrids to electric vehicles, the forecasts look even more impressive. In 2018, the share of such cars on China's roads will be 8%, in 2019 it will grow to 10%, and by 2020 will reach 12%.

It is worth mentioning separately that the vast majority (94%) of electric vehicles sold in China are machines of local production. So, the leader of sales in August of this year was a small city electric vehicle BAIC EC-Series - for a month it was sold 6726 such cars. The second and third places are Zhidou D2 EV and BYD Song PHEV with 5018 and 4194 cars, respectively. For comparison, in the same month in China, only about 1,000 Tesla Model X and about 700 Tesla Model S were sold.

According to McKinsey, in 2016 China's share in the global electric vehicle market reached 43%, for the first time, exceeding the US share. It should also be noted that Chinese manufacturers are actively developing the market of components for electric vehicles, for example, engines and lithium-ion batteries.

The successes of Chinese companies are largely related to the policy of the authorities of the country, which seek to solve the air pollution problem by reducing the air pollution and reduce China's dependence on fuel imports, and therefore supporting generous subsidies for local producers.