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China New Energy Vehicle Market:
According to the data released by the US EV Sales website, the cumulative sales of electric vehicles worldwide has exceeded 1 million units since the first 8 months of 2018, which is a 69% year-on-year increase. Some analysis institutes predict that the global electric vehicle sales in 2018 is expected to exceed 2 million units.


 According to the data from the Traffic Management Bureau of the Ministry of Public Security of China, the current car ownership of new energy vehicles is 2.21 million units, and pure electric vehicles account for 81%. According to the data from China Automobile Association, the production and sales of new energy vehicles from January to September 2018 were 734,600 and 721,500 units, increasing by 73.05% and 81.05% respectively. Specifically, the Plug-in hybrid electric vehicles (PHEV) show explosive growth. In the third quarter of 2018, the production and sales of PHEVs were respectively 179,900 and 180,800 units, increasing by 138.04% and 146.87% respectively. The production and sales of pure electric vehicles have increased by more than 50%. From January to September 2018, the sales of new energy passenger vehicles have reached 600,000 units, nearly double the year-on-year growth.


China Hydrogen Fuel Cell Vehicle Market:
According to Chinese regulations, the subsidy standards for other new energy vehicles except fuel cell vehicle have decreased from 2017 to 2020. Specifically, the subsidy standard for 2017 and 2018 will be reduced by 20%, and the subsidy standard for 2019 and 2020 will be reduced by 40%. Compared to pure electric vehicles, high subsidy is an important driver for the commercialization of hydrogen fuel cell vehicles. In terms of policy subsidies, before 2020, the state subsidies for hydrogen fuel cell vehicles have not been reduced, keeping at 200,000 yuan per fuel cell passenger vehicle, 300,000 yuan per light passenger vehicle and truck, and 500,000 yuan per medium busand medium and heavy-duty truck. The subsidy of China is four times that of the United States and Japan.

 According to the "Blue Book on China's Hydrogen Energy Infrastructure Development (2016)", it is estimated that by 2020, the number of hydrogen stations would reach 100, the number of fuel cell vehicles would reach 10,000 units, and the number of hydrogen energy rail vehicles would reach 50. By 2030, the number of hydrogen stations would reach 1,000, and the number of fuel cell vehicles would reach 2 million. By 2050, the network of hydrogen stations would be completed, and the number of fuel cell vehicles would reach 10 million.

The Market Size of China Hydrogen Fuel-Cell Vehicle Market
Compared to developed countries, Chinese research and development of hydrogen fuel cell vehicle started earlier, but the commercialization process is slower. The current hydrogen fuel cell vehicles are mainly concentrated in commercial vehicles. According to the data from the OFweek Industry Research Institute, almost all pilot projects of hydrogen fuel cell vehicles launched in 2017 in China are concentrated in the commercial vehicle sector. In 2017, the national production of fuel cell commercial vehicle was 1,226 units, of which logistics vehicles accounted for 94% of the total production. Since January 2017, a total of 150 hydrogen fuel buses have been produced nationwide, of which Beiqi Foton Motor Co., Ltd. and Shanghai Automotive Commercial Vehicle Co., Ltd. are the top two producers, accounting for 84% market share.

The Current Development of China Hydrogen Fuel-Cell Vehicle Production
The hydrogen fuel cell auto companies in China are mainly concentrated in the commercial vehicle sector, and hydrogen fuel cell commercial vehicles have realized mass production.

The Market Forecast of China Hydrogen Fuel-Cell Vehicle Development
In terms of fuel cell commercial vehicles, some Chinese automakers have entered the mass production stage.It is estimated that the production of commercial fuel cell commercial vehicles in China will reach 30,000 units in 2025 and will enter the large-scale development stage after 2025.

 With the drivers of relevant national policies and industries, the fuel cell commercial vehicles in China is expected to enter the regional maturity stage in 2020-2025 and will reach an outbreak growth in 2025-2030. In terms of fuel cell passenger cars, it is expected that the market would enter the mass production stage in 2020-2025.