CN Industry Policy for EV in 20ys
• 2001-2008: innovation initiative
R&D investment $550 million, 15 national laboratories
• 2009-2015: industrialization, supply side incentive
national strategy, governmant purchase, subsidies, pilot 28 cities
• 2013-2017: demand side incentive & infrastructure
consumption subsidy/tax exemption, driving privilege, charging stations
• 2016- : institutionalization & marketization
subsidy decrease, stricter emission standards, easing market access (2018 open
to foreign investment)
Figures from: Li, S., Zhu, X., Ma, Y., Zhang, F., & Zhou, H. (2022). The role of government in the market for electric vehicles:
Evidence from China. Journal of Policy Analysis and Management, 41(2), 450-485.
Market share of foreign companies in China EV market
Source: 王勇, 徐婉, 赵秋运, & 刘⻓征. (2023). 中国新能源汽⻋何以实现换
道超⻋*——基于新结构经济学的分析. 经济理论与经济管理, 43(9), 39.
Listed EV companies in Chinese stock market v.s. Average automobile companies
(exclude EV companies in HK stock market)
Data source: CSMAR, TEJ