[China's new energy auto index released in version 3.0, Shenzhen jumped to the top in the urban index] The new era of China's auto industry is coming. It has become an inevitable choice to adopt a more open mind to develop China's new energy auto industry. On April 28, the latest data of the China New Energy Vehicle Index 3.0 (hereinafter referred to as NEVI) shows that in March 2018, the NEVI Composite Index was 32.2, down by 0.8 from the previous month. Among them, the top five cities are Shenzhen, Shanghai, Beijing, Guangzhou and Hangzhou. Chart 1 - Trends in China's New Energy Vehicle Index (NEVI) from July to July 2016 As a comprehensive index that summarizes the running status of China's new energy vehicles with a single value, it aims to use big data to interpret the progress of new energy vehicles in Chinese cities, objectively, scientifically, and forward-lookingly reflecting the development process of new energy vehicles in China, presenting new energy sources. The distinctive urban characteristics of the automobile in the Chinese market. Numerically, NEVI declined slightly this month compared to the previous month; in the city index, Shenzhen rose to the first place, and Guangzhou fell from the first place to the fourth place. Although the NEVI index experienced large fluctuations, this month also saw a slight decline. However, compared with the historical performance of NEVI in the same period of last year, the NEVI is still on a continuous growth track. With the continuous development of the new energy automobile industry in China, the automobile industry related policies have reached the crucial moment that must be adjusted. On April 10th, the Boao Forum for Asia 2018 brought news that the auto industry will further liberalize foreign equity ratio restrictions. “In terms of manufacturing, it has basically been liberalized. The main restrictions for reservations are a few industries such as automobiles, ships, and aircraft. Now these industries already have an open foundation.†Specifically, the automotive industry will be implemented in separate types during the transitional period, 2018 Cancel the restrictions on the ratio of foreign-invested shares of special vehicles and new energy vehicles; cancel the limitation on the ratio of foreign-invested shares of commercial vehicles in 2020; cancel the foreign-invested-to-equity ratio of passenger vehicles in 2022 and abolish the restriction on the number of joint ventures not exceeding two. Through the 5-year transition period, the auto industry will cancel all restrictions. Observing the status of China’s new energy automotive industry statically, the sales of new energy passenger vehicles in China in 2017 were 587,000 vehicles, which was only 50,000 units more than Wuling Hongguang’s annual sales of “Shenzhen†vehicles; the market penetration rate From an angle analysis, in 2017, the penetration rate of China's new energy passenger vehicles was only 2.4%, and the market was still in a very preliminary stage. Chart 2 - Evolution of global passenger vehicle ownership from 2005 to 2050 [Unit: 1 million units] However, if we look at the development of new energy vehicles in China on a global scale, driven by the emerging markets led by China, the global passenger car fleet will double from the current level of 1 billion vehicles to nearly 20 in 2050. Billion vehicles. Correspondingly, the global passenger vehicle production and sales scale will increase to 150 million vehicles or even higher in 2050 at the current stage of 71 million vehicles. Chart 3 - Sales of Global New Energy Passenger Vehicles in 2005-2050 [Unit: Million Units] Although the new energy vehicle technology line needs to be further clarified, it can be expected that all types of new energy vehicles represented by pure electric vehicles, fuel cell vehicles and plug-in hybrid vehicles will occupy a completely dominant position at that time. In the past 2017, the Chinese government has introduced several heavyweight industrial policies in the field of new energy vehicles. In April 2017, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology jointly issued the “Mid-term and Long-term Development Plan for the Automotive Industryâ€, which clearly requires vigorously developing advanced automotive technologies to form new energy vehicles, intelligent networked vehicles, and advanced energy-saving cars. The industrial structure and perfect industrial supporting system. In September 2017, the Ministry of Industry and Information Technology officially released the “Measures for the Concurrent Management of the Average Fuel Consumption of New Passenger Vehicles and New Energy Vehicles by the Passenger Vehicle Corporation.†From April 1, 2018, it will target companies that sell passenger cars in China (including imported cars). Enterprises) Average fuel consumption (CAFC points) and new energy passenger vehicle production (NEV points) are assessed by "double score". The Chinese government is using new energy vehicles as an important part of the "Made in China 2025" and expects to lead the next round of changes in the global automotive industry in this area. With the gradual implementation and implementation of these policies, China has become the world’s largest supporter of electric vehicles under the joint promotion of large amounts of funds and next-generation technologies. Although there are many variables and possibilities for the future development of new energy vehicles, it is clear that China will surely become the popularization, production, and promoter of global new energy vehicles. As China's auto production and sales volume ranks first in the world for nine consecutive years, it will certainly continue to lead the development of the global new energy auto market in the field of new energy vehicles. In a sense, China is already at the crossroads leading the rapid changes in the automobile industry in the future. The Chinese new energy vehicle market will soon become the leader and vane that will lead the future development of global new energy vehicles. Under the above background, further insight into the future direction of China's auto industry can be expected: the production capacity that meets the needs of China's domestic auto market will be facing saturation. Under the joint promotion of overcapacity, resource endowment, and comparative advantages, China's new energy vehicles will surely With a mature industrial chain, it will export its products to the global automotive market. In the long run, there is a possibility that half of China's new energy vehicle industry will export its output. It is an inevitable choice to re-examine the major opening of China's auto industry, and to adopt a more open mind to develop China's new energy auto industry. Because the new era for the Chinese auto industry has come.
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