In 2030, almost 100% of new car sales will come from new energy vehicle (NEW), the sector including the battery electric vehicle (BEV) and the plug-in hybrid electric vehicle (PHEV),  and there could be less than five major players in China in the future as fewer and fewer automakers can survive due to the competition, said Yu Chengdong, or Richard Yu, CEO of Huawei Consumer Business Group as well as CEO of Huawei Intelligent Automotive Solution Business Group, at an industry forum opened in Chongqing city on Friday.

Source: Visual China

Yu expected we will see emergence of consolidation since the small and medium-sized enterprises will be merged into or acquired by the big peer, given the ongoing knockout in the automobile industry. He believes that leading auto manufactures will feel difficult to gain a foothold if they fail to produce 5 million vehicles or even 10 million cars annually.