China’s EV OEMs – Spotlight BYDOutranking VW, Mercedes-Benz, and BMW At the beginning of April 2022, Elon Musk, founder of Tesla, became the richest man in the world with a net worth of USD 219 billion, signaling a new chapter in the New Energy Vehicle era. Valued at over USD 1 trillion, Tesla is the world’s leading automotive company, and many credited its success to Musk’s business foresight and the company’s technology. It has also been voiced that Tesla is becoming increasingly dependent on China, a massive eco-industrial hotbed providing Tesla’s much needed supply chain, manufacturing capability, and consumer market. …
Volkswagen in China’s NEV Market: Challenges & Changes
Volkwagen in China’s NEV Market: Challenges & ChangesHow does VW perform in China’s New Energy Vehicle (NEV) market? In 2021, Volkswagen’s new energy vehicle “ID series” did not meet the Board’s expectations. It reached an annual sales volume of roughly 70,000 cars, lower than the target 80,000. The pioneer in this industry, Tesla, performed far better – reaching a significant volume of 936,000 shipped units. Besides that, the competition did not just come from Tesla. Local new energy automakers such as BYD, NIO, and Xpeng all delivered outstanding sales outcomes of 594,000, 91,000 and 98,000 units respectively. Together these players …
Fuel-Cell Vehicles in China – Quo Vadis?
Quo Vadis Fuel-Cell in China?What is the state of automotive fuel-cell development worldwide? After years of development, fuel-cell electric vehicles (FCEV) still pose a considerable controversy among OEMs, particularly when it comes to passenger car applications. Although notable progress has been made to develop hydrogen fuel-cell vehicles, the overall market in the passenger segment remains small compared to battery cars (BEV). The global FCEV stock reached 45,000 units by 2021, with Japanese and Korean car models leading the market. Long-term projections forecast an annual sales volume of 150,000 units by 2030, and mobility heavyweights have put hydrogen on their development …
The State of China’s Automotive Industry in 2021
China Automotive Industry in 2021What is the state of the Chinese automotive market? China as the world’s largest automotive market represents ~30% of global sales – despite being affected by the COVID-19 pandemic in the beginning of 2020. 25.3 million cars were sold (-1.9% YoY) in 2020 and passenger and commercial vehicle contributed 80% and 20% share respectively. Booming NEV sales also drove the market with 1.3 million sold units (+11% YoY). Up to the end of September in 2021, the entire car market has reached sales volume of 18.6 million (+8.7% YoY) with 2.2 million NEV sold (+190% YoY), …
Hefei – A Rising E-Mobility Hub
Hefei – A Rising E-Mobility HubHefei, the capital of Anhui Province and home to 8 million people, is slowly rising to become one of China’s leading e-mobility and battery technology hubs, thus supporting the government’s direction of gaining a leading position in the global EV market. The city, which is located within 450 km of Shanghai (~5 hours drive, 2 hours by HSR), sees a growing number of companies setting up their business due to favorable policy support and funding by the local government with the aim of reaching an output of 1 million NEVs in 2025.Which companies are driving …