BYD Is the One That Makes Shenzhen a "Quiet Metropolis"

Shenzhen can be called a "quiet metropolis". You will understand why when you visit the city. Most of the world's metropolises are filled with noisy car sounds, made by engines. Well that's not the case in EV-filled Shenzhen. As most of the people in Shenzhen use Electric Vehicles (EVs), it doesn't make the noisy engine sounds that gas cars make. In Shen, almost 100% of taxis and buses are electrically-powered.

Sure, compared to gas cars, EVs do require a longer time to fuel, or rather, charging, but this way, many cars in Shen emit zero carbon dioxide. Besides, in the city everybody is used to life with EV. Many offices have EV chargers so they can charge their EVs while they work and even if they don't, people can still charge it at home, while they sleep. So, in most cases, cost /time of charging your car is not a concern there.

Well, maybe not for frequently-used type of cars, like taxis. The survey by Southern Metropolis Daily indicates that 80% of the taxi drivers in Shenzhen are not satisfied with the number and locations of chargers.
Some claim that this is due to the jump in land prices in the area. (The land prices are rising in Shenzhen, like its neighbor city Hong Kong.) Yet, this information is not verified. However, the lack of chargers is an intensive issue and must be solved. When I visited Shenzhen, the driver had to refuse my ride simply because his battery was running out and there would be no charging locations near my destination.

Then, given the lack of charing locations, is it better to buy a gas car ? May be until the city is filled with more charging points ? The answer probably is a no. In Shen, it is foolish to buy a gas car. Gas drivers there must pay nearly ten thousand dollars just for the number plate. This is one of the policies that the local government is carrying out to fill the city with EVs. Yes, EV is the new normal there in Shenzhen.

Then, who are making those EVs ? That is BYD, the top EV manufacturer and the No.2 rechargeable battery supplier in China. And they are the ones that actually manufacture most of the EV taxis and buses in Shenzhen. The company is founded by Chuan Fu Wang in 1995 in Shenzhen, China. Many of you may have wondered what the "BMW"-like company name means. It simply stands for "Build Your Dream"

The company is publicly traded at SHE (Shenzhen Stock Exchange ), at a current valuation of $17.8B (as of 2019/09/11) and is backed by Warren Buffet at a 24.5% stake in the company. (source: Nikkei Asian Review) According to the driven.io, BYD and Tesla are two of the worlds largest EV-manufacturers in 2018, selling nearly 250k units. Then, China's BAIC and BMW follow them, but they are both behind the top 2 companies by 100k units. Check the figure below.

**EV Market in China is Growing at a Remarkable Speed. Here's Why. **

In 2018, the number of EVs that China has produced is larger than that of all the other nations combined. While other countries are struggling to promote EV in their countries, China's Soviet-like "planned economy" approach is showing a positive result.

Here's something that China has been doing to promote EV and make its domestic market bigger :
・building tons of EV chargers
・giving subsidies to companies that make/research EV
・making things inconvenient for gas cars
ex/ In Shenzhen $ 10k just for the number plate to buy a gas car.
ex/ In Beijing, you can only drive a gas car on certain days.
・Paying subsidies for those who purchase an EV
→many countries do this but China has gone the furthest for the subsidies
: $56B for the subsidies between 2016-2018

But then, why is China so enthusiastic about EV? Sure, it is a cleaner source of energy. But aren't they the 5th largest oil producer in the world ?

Well, here's the reasons for China's EV movement : one easily understandable one and the other "strategic" one.

First, there are serious needs of air purification for the big cities in China. It is easy to imagine if you know the air conditions in cities like Beijing or Shanghai.

However, the second, the more "strategic" reason is something to note. And it is simple: China believes EV is the future. That's why they want China to get adapted to EV before any other country does. This way, China can be the leader in EV manufacturing when the rest of the world finally realizes that EV is the new normal and that they are too behind China to become the dominant manufacturer of our next common way of getting around.

Well, EV is still new and you never know which manufacturer or country will be the eventual winner in this category (or maybe there won't be one). However, it is clear that what they are doing now is crucial to their position in the near future when what everybody will use for commuting is Electric Vehicles.

Let's see who wins this race.

*This article is largely based on the author's personal experience in Shenzhen and the following source by Quartz*
"Your next car may be Chinese and electric"(YouTube Video by Quartz )
https://youtu.be/3BZ2225OJDg