A factory for the Xinwangda Electric Vehicle Battery Co, which makes lithium batteries for electric cars, in Nanjing in China’s eastern Jiangsu province. Photo: AFP
Chinese electric car sales will continue to boom as motorists shrug off price hikes caused by surging lithium battery costs, say analysts
- The prices of nearly 30 models sold in China have been raised since January, by between 1.4 and 13.9 per cent, according to Fitch Ratings
- But this is unlikely to put off Chinese motorists keen to make the switch to environmentally-friendly cars, analysts said
A factory for the Xinwangda Electric Vehicle Battery Co, which makes lithium batteries for electric cars, in Nanjing in China’s eastern Jiangsu province. Photo: AFP