In China, demand for electric vehicles is driving the change away from combustion engines which contribute harmful greenhouse gas emissions to the atmosphere worldwide and increase global warming. The demand for diesel and gas is falling in the transportation sector and looks poised to continue to drop. The demand for electricity that is sustainably produced, scalable and inexpensive is rising.
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China is attempting to remediate their persistent problem of bad air quality. Often, the air is unbreathable in China. People are warned of harmful air roughly 165 days of the year.
China’s policy of switching to electric buses is a response to the pollution problem.
That may be why China is outpacing other nations in adopting electric vehicles at such an accelerated pace. The numbers also tell an interesting story about how rapidly China is adopting electric vehicles. (Indeed, China has won the world’s automakers electric vehicle manufacturing. Many of the world’s automobile manufacturers are opening electric vehicle manufacturing plants in China.)
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Electric Buses in China: By the Numbers
Of all the electric buses in the world, China is running 99% of them according to this article in Bloomberg.
Electric buses are now very field-tested, having logged more than 10 billion road miles.
Every five weeks, China adds 9,500 electric buses to its fleet. That is as many as the entire bus fleet in the city of London, England. So China adds London’s total amount of buses to its electric vehicle fleet every week. That’s how important electric busses are to China. By way of contrast: there are reportedly under 400 electric buses in the U.K.
7 years ago, a little-known Chinese company BYD Co. Ltd. introduced its electric bus model to the world.
Today, BYD has a market cap of USD $170 568 000 000. Their fleet of buses looks like a mature, well-styled offering. In fact, they are expanding cabs as fleet vehicles that are specified to work for two days in a row with occasional electric top-ups at 250 miles per day, working 24 hours per day at an energy cost of roughly .03/mile.
(Baton Rouge, LA announced it is buying 3 buses from BYD’s North American division.)
Because of their commitment to electric vehicles, China is displacing more than 240,000 barrels of fossil fuel consumption per year by replacing its bus fleet with electric vehicles and it is easy to see why. Busses consume around 30 times more energy than passenger cars due to their size, weight, and how often they are in-use.
And yet the electric vehicle market remains if not in its infancy, vastly under-developed. Another electric vehicle manufacturer in China WM Motor aims to launch one new electric model every year. They are also expanding into a USD $685,000,000,000 factory in Shanghai.
Most western automobile manufacturers have pledged to create EV lines of their offerings, or entirely displace combustion engine offers as well.
Electric vehicle growth is happening worldwide, and it looks like China is going to be the world’s electric vehicle manufacturing hub.
Buses are leading the way in the transportation sector to replace combustion engine vehicles with electric vehicles. Sun Fund can provide the global energy infrastructure this sector needs to keep moving forward in the fight against climate change.