Nissan launches cost-effective electric car for China market
Published Date | 2018 September 12
Nissan's Sylphy Zero Emission low- cost electric car has started rolling off the production line at a Guangzhou plant in China.China: Nissan motors is one of the top manufacturers of electric vehicles globally, came up with its latest launch- the first electric sedan for China. It's the first domestically-produced low-cost electric car made specifically for the Chinese market. This new innovation will have a positive impact on the automobile industry in the near future. China's government is the main influence for the growth of electric vehicles market in China. The factors driving the growth of electric car markets are - to minimize pollution by fuel emission and to enhance fuel efficiency. The government is very optimistic about the industry and looks at this as an opportunity to clean up its smog choked cities. A huge investment is being made in terms of subsidies to Chinese producers. This has also created a pressure to automakers with tougher fuel efficiency standards and higher sales quotes. According to Nissan the latest launch would be cost effective and this will highly impact the market .The first of the series is named Sylphy Zero Emission which is a combination of Nissan Leaf and Nissan sedan. The production is facilitated by a joint venture between Nissan Motors and Dongfeng Motor Group. According to the CEO of Nissan, China will be the major market in the adoption of EVs and Sylphy Zero will become a major player in the China market. The primary reason being the market is in need of cost effective EVs. According to BlueWeave consulting, Sylphy Zero, the latest launch by Nissan will have a positive impact on the global EV market. China has the biggest urban population in the world and air pollution is a major health hazard in Chinese cities. On a broader economic level, China also wants to reduce its dependency on oil. This is also in alignment with the government’s new norms and policies. The shift to electric vehicles from the conventional combustion engine vehicles will bring about a change in the overall ecosystem of Automobile industry According to a recently published report by BlueWeave Consulting, on “Global Electric Commercial Vehicles Market 2016-2024”, the Global Electric Commercial Vehicles market is expected to grow at a CAGR of 13.0% during 2018-2024 by value. The market is expected to reach around USD 149,316 Million by 2024. The expansion of the electric vehicles market is influenced by growing demand for fuel-efficient, high-performance and low-emission vehicles. Recently governments are coming up with new transport policies regarding emission and fuel consumption. This is in-turn creating an opportunity for automakers to flood the market with electric vehicles. The highly populated developing countries will provide the future market for EVs.