Considering joining small EV market? You may have missed the last chance

Gasgoo.com (Shanghai July 24) -Small EV’s sales has surged more than 50% in China in the first half of the year over its low price, low usage cost and no requirement for driver’s license. After a five-year rapid growth period, small EV market now witnesses the jungle rules in the coming knockout round.

Average selling price of small EV is 30,000 to 50,000 CNY and the model will cost driver 0.05 to 0.08 CNY per kilometers. And it will provide transport solution for senior people because it requires no driver’s license.

With the lack of relevant regulation on small EV, in the past five year small EV has soaring in the rural areas. Many automakers including BAIC, Geely and Lifan have invested in the section. Also due to the lack of regulations, small EV market has emerged vicious competition, which retards the general development of the industry.

There is more than 10.4 billion investment in the small EV market from ten top EV manufactures. And the top-selling is Yogomo, with more than 30,000 units in the first half of the year.

But, as the release of some government regulations, the perfect joining time has gone and the next phase is knockout round.

Problems have emerged in the usage that the quality hasn’t reached the standard and it’s inconvenient to change battery. And only large company has the strength to solve these problems in the long run and those couldn’t be eliminated from the industry.