New energy vehicles maintain rapid development momentum

China’s autonomous car brand Chang’an Automobile has announced that it will stop selling traditional fuel vehicles and achieve full-spectrum product electrification in 2025. It is understood that this is the first Chinese car maker that has explicitly stated that it will stop selling traditional fuel vehicles.

In recent years, China’s new energy vehicles have continued its rapid development. According to data recently released by the China Association of Automobile Manufacturers, in the first three quarters of this year, the production and sales volume of China's new energy vehicles were respectively 424,000 and 398,000 vehicles, an increase of 40.2% and 37.7% year-on-year, of which the production and sales of pure electric vehicles were 348,000 vehicles respectively. And 325,000 vehicles; as of the end of September this year, China's new energy vehicles hold nearly 1.5 million, accounting for about half of the world, production and sales, the number of charging piles built also ranked first in the world.

Chen Qingtai, chairman of the China Electric Vehicles Centennial Association, said that the automobile power is the general trend.

According to experts in the automobile industry, traditional fuel vehicles are those that rely solely on fuel-burning; automotive motorization refers to the use of electricity to drive automobiles, including pure electric, plug-in hybrid, and pure hybrid, except for pure electric vehicles. Both of the other two require combustion fuel to drive.

At present, many countries such as the United Kingdom, Germany, and France have proposed to ban the sale of traditional fuel vehicles. According to the National Development and Reform Commission and the Ministry of Industry and Information Technology, China is also studying the timetable for the ban on the sale of traditional fuel vehicles.

In addition, the "dual-integration" policy for automakers will be implemented on April 1, next year. All automakers and sellers in China will implement concurrent management of fuel consumption points and new energy points.

Cui Dongshu, secretary-general of the National Passenger Vehicle Market Information Association, said that due to a series of supporting policies, China’s new energy vehicle production and sales will continue its rapid growth.

According to the development plan, Changan Automobile will launch 21 models of pure electric vehicles and 12 plug-in hybrid products before 2025. At the same time, Changan Automobile will also mobilize 10,000 people's R&D resources and invest 100 billion yuan in the entire industry chain to create high-quality new energy vehicles. Zhu Huarong, president of Chang'an Automobile Co., Ltd., said that from 2023 to 2024, the cost of Changan New Energy Vehicle will be close to that of traditional cars, and the comprehensive competitiveness of new energy vehicles will surpass that of traditional cars.

At present, many domestic auto makers have achieved impressive results in terms of electrification.

“Beiqi New Energy was established in 2009, with sales of new energy vehicles surpassing 50,000 last year and sales volume growth of nearly 100% in the first half of the year compared with the same period last year,” said Lu Wei, deputy general manager of BAIC New Energy Automobile Marketing Co., Ltd.

According to reports, in June and July this year, Beijing Automotive and German Daimler signed two cooperation framework agreements in the field of high-end electric vehicles, intending to jointly invest 5 billion yuan in the establishment of pure electric vehicle production base and power battery factory in China. In the future, we will also cooperate in product technology, shared travel, supply chain, and branding.

BYD Auto is also one of the first companies in China to enter the field of new energy vehicles. Last year, new energy vehicles sold more than 100,000 vehicles. In the first three quarters of this year, sales exceeded 70,000 vehicles.

Compared to most Chinese auto brands starting from low-end cars and high-end development, Weilai Automobile, which was established in 2014, entered the automotive industry with racing as its starting point. Its electric supercar EP9 created Nurburggreen North in May this year. The historical track record of the circuit.

Currently, Weilai Motors has established R&D, design, production and commercial institutions in 13 locations in San Jose, Munich, London and Shanghai, and has gathered thousands of talents in the automotive, software and user experience industries. Its first production car ES8 will Listed at the end of this year.

"Anyone who has mastered new energy vehicles will grasp the future of the automotive industry." Liu Nianfeng, general manager of Jiangling New Energy Automobile Co., Ltd. believes that the current production and sales volume of new energy vehicles in China are growing rapidly, but only 2% of the entire automotive market share. Around, this means that new energy vehicles have very good development prospects in China. (economic reference report He Zongxi)

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