Chongqing - "China's electric motorcycle market holds immense potential, but economic recovery factors influence its growth rate," said Wang Hao, Manager of the Commercial and Product Strategy Department at Peugeot Motorcycles (China), during an exclusive interview with Bridging News at the 21st China International Motorcycle Trade Exhibition (CIMAMotor 2023) in Chongqing International Expo Center.
Wang noted that although the Chinese government cares about the environment, its current focus on motorcycles strongly emphasizes economic development rather than solely on environmental concerns.
He explained that the conventional gasoline vehicle industry involves many enterprises, impacts numerous consumers, and employs a significant workforce. Therefore, this industry must prioritize economic development as its primary mission.
When Bridging News had an exclusive talk with Eric Apode, CEO at Peugeot Motocycles, he highlighted that China boasts the world's largest motorcycle market. Thus, his company is actively investing time, energy, and capital to strengthen its position in the market.
Operating in close to 70 countries around the world with a distribution network of 3,000 sales outlets, Peugeot Motorcycles is the oldest brand of two-wheelers in the world.
Apode said that Peugeot Motocycles is focusing on meeting the demands of modern Chinese youth for motorcycles, driven by China's youthful population characterized by enthusiastic consumption habits.
Wang commented on Peugeot Motocycles's commitment to actively contribute to the motorcycle market's growth in Chongqing and beyond. They aim to expand their product network and partnerships to meet the diverse needs of different regions and cities.
Wang thinks a significant gap exists between China and the European market in the electric mobility sector. European governments have implemented various policies to encourage electric motorcycle use, such as providing free parking and restricting gasoline-powered motorcycles, contributing to the rapid growth of the electric motorcycle market.
According to Yahoo Finance, the European electric scooters and motorcycles market is driven by government initiatives to encourage people to switch to green mobility.
For instance, the government of Italy has set aside $11.34 million (10 million euros) to offer subsidies for the purchase of electric scooters. The Italian government also made it official in August 2022 to finance incentives for electric motorcycles and scooters with new funds equal to 20 million euros for the same year.
Due to the lack of significant differentiation in policies between gasoline and new energy motorcycles in China, Chinese consumers have relatively limited interest in electric motorcycles, leading to a slowdown in the growth of the new energy motorcycle market.
However, Wang still believes that as environmental awareness strengthens and policies evolve, the Chinese electric motorcycle market will continue to expand.
As a crucial manufacturing base for motorcycles, Chongqing plays a pivotal role in developing the electric motorcycle market. The city is ideal for electric motorcycle production thanks to its well-established supporting factories and relatively lower labor costs.
"Chongqing plays a significant role in our products, particularly in producing electric motorcycle components such as instruments and speed limiters," said Wang. "This provides solid foundational support for the entire motorcycle industry."
"Chongqing, as a key hub for motorcycle manufacturing, will play a critical role in the rise of the electric motorcycle market, offering more sustainable transportation options for China's future," Wang concluded.
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