Development and Trend of China’s New Energy Vehicle Industry

news

Development and Trend of China’s New Energy Vehicle Industry

At present, a new round of scientific and technological revolution and industrial transformation is booming, the integration of technologies in the fields of automobiles and energy, transportation, information and communication is accelerating, and electrification, intelligence, and networking have become the development trend and trend of the automobile industry. Automobile product forms, traffic patterns, and energy consumption structures are undergoing profound changes, providing unprecedented development opportunities for the new energy automobile industry. New energy vehicles include pure electric vehicles, extended-range electric cars, hybrid vehicles, fuel cell electric vehicles, hydrogen engine vehicles, etc. At present, China has become the world's largest new energy vehicle market. From January to October 2022, the production and sales of new energy vehicles will be 5.485 million and 5.28 million respectively, a year-on-year increase of 1.1 times, and the market share will reach 24%.

fd111

1. The government introduced favorable policies

In recent years, the government has issued a number of policies to support the development of new energy vehicles including pure electric vehicles and plug-in hybrid vehicles in China. For example, in the "New Energy Vehicle Industry Development Plan (2021-2035)", it is clearly stated that the sales of new energy vehicles in my country will reach about 20% of the total sales of new vehicles in 2025. The introduction of the plan has greatly encouraged the upstream and downstream of the self-owned brand automobile new energy industry, and the industry has shown explosive growth momentum.

2. The advancement of battery technology promotes the development of the industry

As the core component of new energy vehicles, the continuous improvement of batteries has improved the performance, safety, service life and cruising range of new energy vehicles. This progress alleviates consumers' concerns about the safety of new energy vehicles and mileage anxiety. At the same time, the slower rate of battery decay helps maintain vehicle range and improves customer satisfaction. The decline in battery costs has made the BOM cost of new energy vehicles gradually equal to that of fuel vehicles of the same level. The cost advantage of new energy vehicles is highlighted by their lower energy consumption costs.

3. The improvement of intelligent technology promotes the development of the industry

With the continuous development of autonomous driving, smart interconnection, OTA technology and the Internet of Things (IoT), the value of vehicles has been redefined. ADAS and automatic driving technology realize the automatic steering and intelligent braking of vehicles, and may realize the driving experience of hands-free steering wheel in the future. The smart cockpit is equipped with an in-car artificial intelligence assistant, a personalized interconnected entertainment system, and an intelligent voice control and interactive system. OTA continuously provides functional upgrades to provide a more advanced smart travel experience than fuel vehicles.

4. Consumers' preference for new energy vehicles has increased

New energy vehicles can provide more humanized interior space layout, superior driving experience and lower vehicle cost. Therefore, new energy vehicles are becoming more and more popular than fuel vehicles, and are gradually favored by consumers. In May 2022, the State Council issued a package of measures to stabilize the economy, including optimizing the investment, construction and operation mode of new energy charging pile facilities, aiming to build a national charging network that completely covers residential areas and operating parking lots, and speed up the development of expressway service areas and passenger transport hubs. and other charging facilities. The improvement of charging facilities has provided consumers with great convenience, and consumers' acceptance of new energy vehicles has further increased.


Post time: Jan-05-2023