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Perspective on the Ten Year Changes of China's New Energy Vehicle Industry

A look at the changes in China's new energy vehicle industry over the past decade

Ten years of hard work. Over the past decade, China's new energy vehicle production and sales have increased by about 126 times, and have ranked first in the world for nine consecutive years. The surge in production and sales reflects the industry status of my country's new energy vehicle industry from following to leading, and the increasingly complete industrial support system.

Quantitative change: 100 times in ten years

Looking back, it took 27 years for China's new energy vehicles to roll off the production line from the first to the 10 millionth, and only 17 months from the 10 millionth to the 20 millionth...

From nothing to something, from weak to strong. The vigorous development of China's new energy vehicle industry has become a successful case of optimizing the allocation of many development factors such as technology, talents, and funds, and is also a vivid portrayal of my country's efforts to promote high-quality development of the industry.

In the past decade, China's annual production and sales of new energy vehicles soared from 78,500 and 74,800 vehicles in 2014 to 9.59 million and 9.5 million vehicles by the end of 2023, an increase of about 126 times.

In the past decade, my country has introduced a series of policies and measures, from car purchase subsidies to charging infrastructure construction, paving the way for industrial development and the popularization of new energy vehicles.

In the past decade, local automakers have increased their investment, insisted on independent innovation, and achieved "overtaking in key technologies such as batteries, motors, and electronic controls". For example, BYD has launched a number of popular new energy vehicle models with its technological advantages, and long battery life and intelligent networking have become the "standard" in the industry. In the past decade, new energy vehicles have entered thousands of households. According to a survey, more than 60% of consumers will consider buying new energy vehicles in 2023.

New energy vehicles are not only popular in China, but are also actively sailing to the world. In 2023, global sales of new energy vehicles will reach 14.653 million units, with Chinese new energy vehicle sales accounting for nearly 65%. With sales increasing year by year, the brand influence of Chinese new energy vehicles is also expanding, and the share of the international market is becoming more and more "heavy".

According to the data of China Association of Automobile Manufacturers, in 2023, China exported 1.203 million new energy vehicles, a year-on-year increase of 77.6%. In the past decade, China's new energy vehicles have not only entered the streets and alleys of many countries, but also entered the hearts of consumers at home and abroad. In New Zealand, Richard VanderEngel, who runs a car store, believes that local residents choose to buy Chinese cars not only because of the price advantage, but also because of the excellent technology.

Today, Chinese brands are running faster and faster in the new energy vehicle era with their innovation and breakthroughs. Yuan Chengyin, director of the National New Energy Vehicle Technology Innovation Center, believes that in the new energy era, China's automobile industry is rising rapidly and is gradually becoming a "leader" from a "follower".

Qualitative change: ecological co-prosperity

China's new energy vehicle industry is accelerating, and the industry support system is becoming more complete: the advantages of the global battery industry chain continue to stand out, the construction of charging infrastructure is gradually improving, and new scenarios are continuously expanding.

"G-engraved" 5C ultra-fast charging battery, "Xingchen" high-nickel ternary large cylindrical battery, "Jinshi" all-solid-state battery... On May 17, the 13th Guoxuan High-tech Science and Technology Conference opened in Hefei, Anhui, with new technologies and new products being unveiled. Among them, the "Jinshi" battery with all-solid-state technology can achieve a battery pack with a single charge range of 1,000 kilometers, which has attracted the attention of the industry.

China's power battery industry market size has led the world for seven consecutive years, thanks to Chinese companies' continued attention and investment in cutting-edge technologies.

"Disruptive technologies in new energy are constantly emerging, opening up new tracks and leading new demands." Li Zhen, chairman of Guoxuan High-tech, said that in recent years, Guoxuan High-tech has continued to increase its R&D investment, build a global R&D platform, establish a collaborative innovation mechanism, break through key technologies, and enhance core competitiveness. In 2023, Guoxuan High-tech's R&D investment increased by 14.57% year-on-year.

As technological innovation accelerates, the new energy vehicle industry ecosystem in China is booming: the Yangtze River Delta has formed a new energy vehicle "4-hour industry circle"; the Pearl River Delta has seen the rise of a new energy vehicle industry cluster; Beijing, Tianjin and Hebei have jointly built a "chain" to jointly create the "car of the future"...

At the recently concluded Beijing Auto Show, Chinese new energy vehicles and industry chain companies are sharing development dividends with global automakers. "The batteries we use come from the CATL factory in Germany," said Oliver Blumer, CEO of Porsche, at the auto show. He also had an in-depth discussion with Zeng Yuqun, chairman of CATL, on battery quality and product development.

At the same time, a sound charging infrastructure system is a sufficient guarantee to support the high-quality development of new energy vehicles. Today, my country's charging infrastructure network has basically covered most rural areas.

Data from the China Charging Alliance shows that as of April 2024, the cumulative number of charging infrastructure nationwide will be 9.613 million units; from January to April 2024, the incremental ratio of charging piles to vehicles will be 1:2.5, and the construction of charging piles basically meets the rapid development needs of new energy vehicles.

Fu Bingfeng, executive vice president and secretary-general of the China Association of Automobile Manufacturers, said that at present, the electrification, intelligence and networking of the automobile industry are accelerating their integration, and the energy power, production and manufacturing, and consumption methods of automobiles are facing reshaping. A new industrial ecology and competitive landscape are accelerating their formation.

Transformation: Intelligent Future

Big AI models are being put on cars, flying cars are making their debut, and hybrid technology is moving towards the "next generation"... At this year's Beijing Auto Show, Chinese companies showed the "future" to the industry: big AI models such as Huawei Pangu, Baidu Wenxin Yiyan, and iFlytek Spark have been "put on cars" and appeared one after another, while Xpeng Motors, GAC, Geely, and Chery are competing to lay out a new "car + flight" model to seize the commanding heights of future development.

As the world's largest new energy vehicle market, Chinese automakers are focusing on the "lane changing" opportunities in the automotive market, constantly breaking through core technologies, and aiming at the "future track" to pass on China's advanced experience in new energy vehicles to the world.

It is worth noting that many Chinese domestic automobile companies are achieving "reverse output" of core technologies and capital, bringing "Chinese experience" and "green future" to the world.

From more than ten years ago when Chinese cars were exported at a loss to gain publicity, to today's "cost-based pricing" for Chinese new energy vehicles; from "single-handedly" exporting cars to now when BYD, Chery and other companies have invested in their own car roll-on/roll-off ships to achieve "national ships, national cars, national destiny", to the industrial chain and technology exports of companies such as CATL and Gotion High-tech, the "green experience" from China's new energy vehicles will also sail to the world, creating a "technological future" and "green future" for the global village.

 

 

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