New Energy Cars - China - May 2019
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Battery electric passenger vehicles (BEV) are passenger cars that are fully powered by electricity, eg Tesla Model S, BYD E6.
Plug-in hybrid electric passenger vehicles (PHEV) are passenger cars that are partially powered by electricity, using rechargeable batteries that can be recharged by plugging them into an external electric power source. Typical models are BYD Tang, Roewe 550, BAIC E-Series.
Fuel cell electric passenger (FCEV) vehicles are passenger cars that run on a fuel other than traditional petroleum fuels, eg Roewe Fuel Cell 950.
Range extended electric vehicles (REEV) are battery electric vehicles that include an auxiliary power unit (APU) known as a “range extender”. The range extender drives an electric generator which charges a battery that supplies the vehicle’s electric motor with electricity.
“NEV sales achieved an extraordinary increase against a background of a slowdown in total passenger car sales growth in 2018. This attests to consumers’ improving brand awareness of NEVs. In tier three or lower cities in particular, there could be more opportunities for NEV. For startup brands, good aftersales service is as important as overall build quality to gain consumers’ trust.”
- Terence Zhou, Research Analyst
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