Shandong micro EV output increased 10 folds from 20,000 units in 2010 to 200,000 units in 2014, according to Shandong Micro EV Industry Development Report 2015.
Shandong is home to 69 micro EV manufacturers, which had invested a total of ¥11.628 billion ($1.875 billion) in the industry by the end of 2014 and total output capacity of the companies had reached 1.7 million vehicles, the Report said.
According to industry statistics, 22 companies in Shandong New Energy Vehicle Technology Innovation League produced 187,400 micro EVs in 2014, up 50.46 percent year-on-year. About 40,000 vehicles have been exported overseas. In the first seven months of 2015, micro EV production in the province reached 190,200 units, a 54.19 percent increase from 2014. Shandong will be able to achieve its goal of producing 300,000 micro EVs this year.
Top five micro EV manufacturers in the industry produced 143,600 vehicles in 2014, accounting for 78 percent of total production of the 22 companies in the League.