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Trends in China's New Energy Vehicle Market - In October 2022, China's production of new energy vehicles was 752,000 units, a decrease of 0.8% month-on-month and an increase of 85.0% year-on-year. The penetration rate rose to 29.4% month-on-month.
- The production of new energy vehicles in January-October was 5.59 million units, a year-on-year increase of 108.4%. The cumulative penetration rate reached 24.7%, and its contribution to the growth of the automobile market exceeded 80%.
China's new energy vehicle market structure - In October 2022, sedans accounted for 55.8%, 4.6 percentage points lower than the same period last year;
- SUVs increased by 3.8 percentage points;
- The share of passenger cars remained basically unchanged, and sales volume continued to grow.
Power battery-installed capacity overall trend - In October 2022, the installed capacity of new energy vehicle power batteries was 21.4GWh, a year-on-year increase of 60.1%. The cumulative installed capacity in 2022 was 193.6GWh, a year-on-year increase of 99.9%.
- The "golden September and silver October" did not arrive as expected, and sales volume was lower than the same period last year. The installed capacity also fell back. In terms of single-vehicle power, the average single-vehicle installed capacity from January to October remained at 46.1kWh, a year-on-year increase of 3.6%.
Power battery-market supporting structure - In terms of appearance, square batteries account for a cumulative share of 92.7%. At the same time, companies such as BYD Battery and Farasis Energy are also seeking breakthroughs in large cylindrical and soft-pack batteries, but the domestic dominance of square batteries will not be broken in the short term.
- Lithium iron phosphate batteries will continue to grow rapidly in the short term, with a share of over 67% in October, up 5.3% from the previous month. The current energy density of lithium iron phosphate can basically meet the needs of mid-range models in the current market, and the price of positive electrode materials has continued to rise recently, and the cost advantage of lithium iron batteries can be further demonstrated.
Power battery-cell enterprise supporting situation - CATL's battery installed capacity accounted for 45.2%, a decrease of 4.2% from the previous month, while Fudi Battery's share increased to 29.1%. The top ten companies accounted for more than 95.9% of the supporting capacity, and the concentration of the battery supporting market continued to rise.
- Zeekr 001 supports the rapid growth of Xinwangda's installed capacity, and the popular model has a profound impact on mid-level suppliers.
Drive motor-company supporting situation - In October, sales of new energy vehicles were lower than expected, and the supply of electric drive systems decreased month-on-month.
- The Ideal L9 delivery batch in October used honeycomb motors to replace most of the Inovance motors, resulting in a significant year-on-year decline in Inovance's matching volume this month.
- Changan Deep Blue SL03 has gradually increased in volume, becoming another growth support for United Electronics.
- GAC Group established an electric drive technology company in August and a battery company in November. The three-electric supporting system is gradually taking shape. In the future, the electric drive system will move towards self-research, self-production and self-matching.
Drive motor controller-company supporting situation- In October, the overall supporting structure of the electric control market remained stable. The top ten electric control supporting enterprises accounted for 75.1% in total, and the industry concentration decreased by 2.4% month-on-month.
- The increase in sales of Changan Deep Blue SL03 has made an important contribution to the growth in CRRC Times' supporting volume.
- Inbol has gained a large market share by focusing on low- and medium-power models
- Except for some self-equipped enterprises, the electronic control equipment for mid-to-high-end models tends to be concentrated in United Automotive Electronics, Nidec Corporation and Inovance Technology.
Development trend of pure electric vehicle platform - Pure electric vehicles are very similar to mid-engine vehicles in terms of front and rear wheel loads. In terms of product platform innovation, mid-engine models can serve as a conceptual reference for pure electric products.
- The design of pure electric passenger cars can refer to MPVs and high-performance sports cars in terms of space and performance. The MPV design can achieve a large space based on a short body, while the sports car design can reduce wind resistance and improve high-speed power and endurance.
- For pure electric trucks, in terms of reducing the frontal area and drag coefficient, you can refer to low-entry and low-drag products. The removal of the engine increases the available space at the front of the vehicle and reduces the steering load. Both need to be focused on at the same time.
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