The dynamics of electric vehicle and oil demand in China

Abstract

China is the biggest passenger car sales country in the world. The Chinese government has been promoting EV sales for the environment protection and the manufacturing industry encouraging. As a result, EV sales are rapidly developing recent years. Adding this, with the high-speed railway development, transportation fuel substitution has occurred. However, Chinaʼs oil demand will be seen keeps high level because owned car stocks, the demand of transportation fuels other than vehicles such as aviation and ships, and the demand for petrochemicals will be increasing for the time being.