China’s electric car boom: should Tesla Motors worry?

In The News Piece in Fortune
Feb. 19, 2015

My book, The Great Race: The Global Quest for the Car of the Future, tells how up until recently that project has been a series of ambitious failures. As late as January 2014, China was selling only about 600 electric cars per month – that same month the U.S. sold over 6,000. But during the last four months of 2014, China’s electric vehicle sales skyrocketed. In December alone, monthly sales of passenger and commercial electric vehicles hit 27,000. According to data from the China Automotive Technology Research Center and the Department of Energy’s Argonne National Laboratory, sales of electric cars in China surpassed sales of electric cars in the U.S. for the first time. In fact, China’s electric vehicle sales in December 2014 were almost 30 times higher than January 2014 sales.