With China's NEV penetration reaching a turning point, demand for EVT transmissions has surged.
The market share of new energy vehicles is steadily increasing.
According to the data, in April, China's new energy vehicle sales reached 206,000 units, marking the 10th consecutive month of setting a new monthly record high. Another indicator showing a favorable trend is the penetration rate of new energy vehicles.
The data shows that in the first four months of this year, China's new energy vehicle sales reached 732,000 units, with the penetration rate exceeding 8.3%, an increase of 2.9 percentage points compared to the data from 2020. The penetration rates for the first four months were 7.2%, 7.6%, 9.0%, and 9.1% respectively, showing a steady upward trend.
According to the data, in April, China's new energy vehicle sales reached 206,000 units, marking the 10th consecutive month of setting a new monthly record high. Another indicator showing a favorable trend is the penetration rate of new energy vehicles.
The data shows that in the first four months of this year, China's new energy vehicle sales reached 732,000 units, with the penetration rate exceeding 8.3%, an increase of 2.9 percentage points compared to the data from 2020. The penetration rates for the first four months were 7.2%, 7.6%, 9.0%, and 9.1% respectively, showing a steady upward trend.
What does the gradual increase in penetration rate mean? In May this year, He Xiaopeng, the chairman of XPeng Motors, stated in an open forum: "Before 2019, China was always the dominant force in the field of new energy vehicles. However, in 2020, there was a piece of data from Europe that surpassed China - it was the penetration rate. Although the European market is not as large as China's, the penetration rate in 2020 surpassed that of China. But we still witnessed a very encouraging phenomenon. In the fourth quarter of 2020 in the first-tier cities of China, all reached a penetration rate of over 10%. Previously, when we were engaged in the Internet and social software development, there was a saying that when the target market and your user group had 10% of people adapting to your new industry, you would find that this industry starts to develop rapidly, faster than you could have imagined." The optimistic mood expressed by He Xiaopeng is self-evident.
Coincidentally, recently, the chairman of CATL, Zeng Yuqun, stated at the 2020 annual general meeting: "What will the scale of (electric vehicles) be in 2050? Last year, we presented an electric vehicle story. At that time, some people suggested a penetration rate of 25% for 2025, and for 2030, some said 50%. Many people were debating. Now, just over a year later, everything has changed. The penetration rate in 2035 will be extremely high." Zeng Yuqun directly used the words "extremely high" to describe the penetration rate of new energy vehicles in 2035, surpassing He Xiaopeng's optimism.
In terms of actual production and sales volumes, from January to April this year, China's sales and production of new energy vehicles reached 750,000 units and 732,000 units respectively, increasing by 2.6 times and 2.5 times year-on-year. Among them, the sales and production of pure electric vehicles reached 637,000 units and 615,000 units respectively, increasing by 3 times and 2.8 times year-on-year; the sales and production of plug-in hybrid vehicles reached 113,000 units and 117,000 units respectively, increasing by 1.2 times and 1.4 times year-on-year. A research report from Caicai Securities stated that it is expected that the penetration rate of electric vehicles in China will continue to rise in the future, and the annual sales of electric vehicles are expected to exceed 2.4 million units.
This indicates that the market for new energy vehicles is experiencing a rapid explosion. Dr. Liang Wei, the CEO of Nantong Ruidong New Energy Technology Co., Ltd., is also very excited about this situation: "The market situation is indeed quite positive and optimistic, and this is reflected in our business as well. The series of electric drive units and automotive electronic electronic control products designed and developed by Ruidong New Energy are currently in high demand in the market." Dr. Liang Wei stated that according to this trend, it is expected that the series of products of Ruidong New Energy will achieve a sales revenue of 5-10 billion yuan by 2025 relatively easily.
Dr. Liang Wei, the CEO of Nantong Ruidong New Energy Technology Co., Ltd.
Coincidentally, recently, the chairman of CATL, Zeng Yuqun, stated at the 2020 annual general meeting: "What will the scale of (electric vehicles) be in 2050? Last year, we presented an electric vehicle story. At that time, some people suggested a penetration rate of 25% for 2025, and for 2030, some said 50%. Many people were debating. Now, just over a year later, everything has changed. The penetration rate in 2035 will be extremely high." Zeng Yuqun directly used the words "extremely high" to describe the penetration rate of new energy vehicles in 2035, surpassing He Xiaopeng's optimism.
In terms of actual production and sales volumes, from January to April this year, China's sales and production of new energy vehicles reached 750,000 units and 732,000 units respectively, increasing by 2.6 times and 2.5 times year-on-year. Among them, the sales and production of pure electric vehicles reached 637,000 units and 615,000 units respectively, increasing by 3 times and 2.8 times year-on-year; the sales and production of plug-in hybrid vehicles reached 113,000 units and 117,000 units respectively, increasing by 1.2 times and 1.4 times year-on-year. A research report from Caicai Securities stated that it is expected that the penetration rate of electric vehicles in China will continue to rise in the future, and the annual sales of electric vehicles are expected to exceed 2.4 million units.
This indicates that the market for new energy vehicles is experiencing a rapid explosion. Dr. Liang Wei, the CEO of Nantong Ruidong New Energy Technology Co., Ltd., is also very excited about this situation: "The market situation is indeed quite positive and optimistic, and this is reflected in our business as well. The series of electric drive units and automotive electronic electronic control products designed and developed by Ruidong New Energy are currently in high demand in the market." Dr. Liang Wei stated that according to this trend, it is expected that the series of products of Ruidong New Energy will achieve a sales revenue of 5-10 billion yuan by 2025 relatively easily.
Dr. Liang Wei, the CEO of Nantong Ruidong New Energy Technology Co., Ltd.
"Currently, the market is changing rapidly. For an EVT product, from design and development to verification, the ideal cycle would typically take about one to one and a half years. However, many customers in the market have expressed their demands, requesting a shorter development time. The demand is extremely strong," said Dr. Liang Wei. This indicates that the overall market situation is operating at a fast pace.
In order to adapt to the market rhythm, under the leadership of Dr. Liang Wei, Ruidong New Energy adopted a platform-based and shared development model, which accelerated the development speed and reduced the development cost, thus securing valuable market opportunities for the company.
Dr. Liang Wei disclosed, "Rui Dong's platform-based electric drive system is the best solution for gradual electrification and can support a full range of products from hybrid to pure electric." The Rui Dong New Energy EVT300, which completed its A sample design as early as 2020, uses a domestically pioneered power diversion technology. It has reached and even exceeded the similar technology of Toyota, achieving a breakthrough in this technology in China. This product is suitable for both hybrid vehicles and plug-in vehicles, and has a very wide range of applications.
It was precisely due to the explosive growth of the market that Ruidong New Energy also benefited from this wave of growth.
In 2020, it achieved an angel round financing of over 10 million yuan.
"Believing that as the penetration rate of new energy vehicles steadily increases, the entire market will reach a critical point at a certain time. After that, people will notice that there are more and more electric vehicles and energy-saving vehicles around them. Currently, the entire market, including battery power, auxiliary driving systems, electric drive units, etc., are actively seeking the best solutions for the market and users. I believe this critical point will come soon," said Dr. Liang Wei.
In order to adapt to the market rhythm, under the leadership of Dr. Liang Wei, Ruidong New Energy adopted a platform-based and shared development model, which accelerated the development speed and reduced the development cost, thus securing valuable market opportunities for the company.
Dr. Liang Wei disclosed, "Rui Dong's platform-based electric drive system is the best solution for gradual electrification and can support a full range of products from hybrid to pure electric." The Rui Dong New Energy EVT300, which completed its A sample design as early as 2020, uses a domestically pioneered power diversion technology. It has reached and even exceeded the similar technology of Toyota, achieving a breakthrough in this technology in China. This product is suitable for both hybrid vehicles and plug-in vehicles, and has a very wide range of applications.
It was precisely due to the explosive growth of the market that Ruidong New Energy also benefited from this wave of growth.
In 2020, it achieved an angel round financing of over 10 million yuan.
"Believing that as the penetration rate of new energy vehicles steadily increases, the entire market will reach a critical point at a certain time. After that, people will notice that there are more and more electric vehicles and energy-saving vehicles around them. Currently, the entire market, including battery power, auxiliary driving systems, electric drive units, etc., are actively seeking the best solutions for the market and users. I believe this critical point will come soon," said Dr. Liang Wei.
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