The Future is Electric: Embracing the Global EV Revolution


As countries worldwide accelerate their transition to cleaner energy alternatives, the electric vehicle (EV) industry stands at the forefront of this transformative journey.

Leading the charge is China, a powerhouse in the EV sector, where innovation and investment are propelling unprecedented growth. According to the Global EV Outlook 2024 Report by International Energy Agency (IEA), the market share of EVs is projected to reach up to 45% in China, representing nearly half of the global EV market. The declining battery and manufacturing costs are also playing a significant role in bolstering this market expansion. Competition and innnovation among manufacturers are the main causes of the declining costs, thus lowering the prices of EVs. In 2023, over 60% of the EVs sold in China were priced lower than conventional cars, making EVs attractive not only to environmentally-conscious consumers but also to the general public who seek more budget-friendly options.

With key players like BYD, Li Auto and XPeng, China’s dominance in the EV industry is further solidified as these influential companies continue to drive innovation and market growth. As such, China presents a highly attractive market for entry, particularly given the increasing policy support from the government and abundant opportunities to collaborate and obtain insights from industry leaders within the country. Entering the Chinese EV market not only offers access to a vast consumer base but also provides a fertile ground for forging strategic partnerships and staying abreast of the latest advancements in EV technology and market trends.

Recognising the increasing opportunities in China’s EV market, we are excited to introduce a tailored solution for companies seeking to make their mark in this dynamic sector. DayDayUp proudly presents the “Beijing Bound: Accelerating Ventures into China’s Mobility Ecosystem” programme, designed to assist companies in setting up, testing and commercialising solutions within Beijing’s thriving EV landscape. Through our programme, companies can gain valuable insights from industry leaders, engage in co-innovation and networking activities, and leverage our extensive network for potential strategic collaborations.

Come with us as we embark on this journey to unlock the boundless potential of the EV industry in Beijing together!

Interested in the programme? Sign up for the programme here now. 


Carmen Low

Lee Jin Pin

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