Statistics from the China Association of Automobile Manufacturers show a massive increase in electric vehicle (EV) sales in 2012. The data released show that total production increased from 8,169 units in 2011 to 12,522 units in 2012. Of those newly produced vehicles, 11,241 were pure EVs. The total number of EVs sold in 2012 topped out at 11,375 units, an increase of 103.9% from the previous year.
Pike Research, which provides in-depth analysis of global clean technology markets, shows that despite the rapid growth in sales, China has a long way to go before it reaches its goals for the electric vehicle market. The country's State Council announced in 2012 that China has a goal of producing 500,000 EVs by 2015 with a long-term goal of 2 million by 2020. According to the research group, China's current trajectory will only put sales at 45,000 units by 2015, and 152,000 vehicles by 2017. However, global management consultants McKinsey & Co. have not discounted China's potential. Axel Krieger, leader of McKinsey's China Auto Hub, stated that, "Given the enormous scale of its auto market, China should be a natural contender for global leadership in the electric vehicle market."
Krieger added that "short supply in batteries, underdeveloped infrastructure, as well as low recognition among customers," factored into the equation.