Asia playing ‘catch up’ to Europe in electric vehicle market: Fitch


Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020.

Ding Ting | Xinhua News Agency | Getty Images

China is the largest player in Asia’s electric vehicle market — but the region is still lagging behind Europe, according to an analyst at research firm Fitch Solutions.

Asia is falling behind because European governments are taking strong measures to boost growth in the sector, said Anna-Marie Baisden, head of autos research at Fitch Solutions, in an interview on CNBC’s “Squawk Box Asia.”

“The region is playing catch-up. When we talk about the Asian EV market, we’re predominantly talking about China, which still accounts for around 90% of sales,” said Baisden.



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