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Production of Chinese NEVs Exceeds 60M Units

Recently, both traditional automakers and newly emerging internet auto companies are distributing for NEV market at full stretch. Statistics showed that, the newly registered NEV automakers throughout the country are no less than 200; the capacity of these automakers (which include that were under construction) has reached nearly 63.58 million units, among which the NEV projects during from 2016 to this March of China have surpassed 120, and their total planned capacity has surpassed 13 million units per year. The scale of domestic NEVs’ production is expanding at a high speed.

Domestic Automakers Compete to Build Factories

It is reported that, the NEVs sales target of 9 independent automakers including FAW, Dongfeng, SAIC, Changaan, BAIC, GAC Group, Chery, Geely and the Great Wall of 2020 is close to 4 million units, with a total investment of up to 80 billion yuan; while the sales target for passenger cars of 3 automakers including Yutong, Zhongtong and Jinlong has a total investment of over 10 billion yuan.

Internet automakers also enter into the layout phase of production. There are already nearly 30 newly emerging automakers including NEXTEV, Chehejia, Bordrin, Kailong the Orient, ZhicheAuto, LeEco, YouXia, LingPao Auto and so on; however, there are only less than 13 automakers were approved to build NEVs. Support from local governments is one of the main reasons for automakers to build factories.

Auto Giants Scramble for Strategic Highlands

At present, the NEVs on sale in domestic market are mainly mid-low end models like BYD, Zotye, BAIC NEVs, but no substantial progress in mid-to-high end products. The market has been occupied by foreign brands like Tesla and sino-foreign joint ventures like DENZA, which gives opportunities for foreign auto giants to surpass domestic automakers.

The founder of Tesla has revealed that, Tesla is to build 4 supper battery factories around the world. While automakers including Benz, VW, GM and so on have already focused on NEV.

Benz has registered 8 new trademarks in China including EQ, EQA, EQB, EQC, EQE, EQS, EQG and EQX recently; VW has listed three world debut models on Shanhai Auto Show including VW I.D., CROZZ and Skoda VISION E concept car; while GM is to product a pure electric vehicle in China within two years. GM also planned to list more than ten NEVs and at least one domestic HV every year in Chinese market by 2020.