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China’s New Energy Vehicle Industry Needs to Shore up Shortfalls and Enhance Advantages in a Swift Manner (No.318, 2020)

Feb 20,2021

By Yang Jianlong, Research Department of Industrial Economy, DRC, and Li Xiaofeng, State Research Information Technology Co., Ltd.

Research Report, No.318, 2020 (Total 6062) 2020-12-31

Abstract: Based on the development of the past decade, China’s new energy vehicle production, sales and car parc all rank at the forefront of the world with continuously improved technology and certain competitive power in terms of global market share. However, along with increased input into the new energy vehicle industry by different countries, the industrial competition has become even fiercer. Therefore, we need to enhance advantages and shore up shortfalls in this industry so as to sharpen the competitive edge. In the future, with regard to issues relating to market, technology and environment, we need to focus on segmented market performance to boost sales growth. On one hand, it is necessary to promote mid-to-high-end as well as intelligent connected vehicles in urban market to meet the consumption and replacement demand of urban dwellers. On the other hand, in light of the natural convenience for battery charging in rural areas, we need to promote economical products to satisfy the daily needs of farmers. By so doing the construction of battery charging facilities in rural areas could also be advanced. Meanwhile, we need to accelerate the breakthrough in core technologies of spare parts, strengthen multi-polar growth through industrial integration, resolve the difficulties in the layout of battery charging hubs, optimize charging environment, prevent potential risks and ensure sound development of the industry in a bid to boost car sales to a new high.

Keywords:new energy vehicles, intelligent connected vehicles, power battery, industrial integration