Will China be the new Electric Car mecca? It has to
There has been a lot of news regarding EVs and China: a nationwide network of recharging stations, an array of hybrid and electric models (some a little bit odd). According to the Forbes editor, moving to EVs is more a necessity than some sort of inspirational eco matter. China is expected to have 700 million cars on the roads by 2050. That's three times as more as the number of cars on U.S. roads now. Even with efficient powertrains, China would need 20 million barrels of oil per day to fuel its transportation sector, which in turn will emit about 3 billion metric tons of CO2 per year. This is unsustainable and unstable. A significant chunk of these vehicles need to use another type of energy - and electricity is what they have handy right now.
Some examples of companies working towards the future of EVs are MidAmerican Energy Holdings, which has interests in BYD; and Johnson Controls and Saft, who have teamed up to work on lithium-ion batteries. Even Exxon has a battery factory in South Korea.
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