Investments and plans express optimism in an electric-car filled future, the short term figures suggest consumers are not yet convinced.
China announced last week disappointing sales of new energy vehicles, including all electric, fuel-cell and plug-in hybrid models, which declined by 23.5% to 82,000 units in May. This was despite a 14.5% annual growth in overall vehicles sales to 2.194 million units in China in the same month, bolstered by the government's incentives.
In China's case, the market has been dogged by government U-turns on subsidies for customers, which has hit consumer confidence. But nor is there any clear sign of expansion in other major markets such as Japan and India.
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