EVs set to power auto sales

Electric vehicles are expected to account for at least 11 percent of all the new vehicles sold in China in the next decade on the back of growing environmental awareness and stricter regulations, a new survey said on Monday.

The survey, published by global consultancy firm KPMG, showed that a majority of the Chinese respondents (68 percent) expect e-vehicle sales - hybrid, battery cell and fuel cell units - to account between 11 percent to 15 percent of markets in the next 10 years.

The survey was based on responses from 200 executives from automobile companies, suppliers, dealers, financial services providers, rental companies and mobility solutions providers in 31 countries, including 25 from China.