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Global parts makers seize China's new energy automotive market

December 11, 2022

At the recent Beijing Auto Show, the “Enlightenment” of new energy vehicles became a major highlight. Recently, the world's major car manufacturers and parts manufacturers have made efforts to seize the new energy vehicle market in China. Analysts believe that in order to alleviate the pollution problem, the Chinese government has a positive attitude towards the promotion of electric vehicles, and the new energy vehicle sector is expected to continue to heat up.

Manufacturers stepped up their efforts on the 21st, the United States fuel cell producer Prager Energy announced a non-binding memorandum of understanding with Hyundai Hysco, will establish a fuel cell joint venture to develop and sell hydrogen fuel cells in the Asian market. Details of the joint venture will be announced before July 31 this year. Prager said that this move will expand the company's market into Asia and play an important role in future performance. Currently, Prager's fuel cells are mainly used for forklifts.

Prager's new move comes at a time when major automakers are rushing to compete in the new energy auto market in China. At the Beijing Auto Show recently held, Beijing Automotive announced the formation of a joint venture with Siemens to promote the development of China's new energy vehicle drive technology. The joint venture will produce electric drive powertrains including electric motors and power electronics equipment for Beiqi S, C and L series models. It is estimated that by 2015, the new factory in Beijing will be mass-produced, with an annual production capacity of 100,000 units. It is reported that Beiqi will apply the electric drive system to its electric vehicle platform.

Previously, GM announced the launch of a new generation of energy-saving, small-displacement engines for hybrid systems and other alternative fuels. It will be promoted to 27 models sold in 64 countries by 2017, including those listed on the Chinese market. New Cruze. GM also announced that it will invest 12 billion U.S. dollars in China by 2017 to build more factories to increase competition.

In addition, electric vehicle leading enterprise Tesla CEO Musk recently visited China, and stated that in the next three to four years, Tesla may achieve localized production in China. Tesla is preparing to set up a super charging station in China. The initial plan is to select Beijing and Shanghai.

Chinese new energy vehicle market is expected to be the driving force
IHSAutomotive latest report <br> <br> advisory body is expected, by 2014 the global electric vehicles and plug-in hybrid car production is expected to grow 67 percent, to 403,000, an increase over 2013 44% rose further, of which China will become an important driving force for the increasing popularity of electric vehicles in the world.

The “2014 Consumer Market Development Report” issued by the China Academy of Commerce Research Institute on the 22nd pointed out that the environmental pressure caused by air pollution may cause the “restriction order” to sweep more cities, and the consumption of cars in first-tier and second-tier cities may encounter administrative intervention. "Ceiling", the trend of production and sales face greater uncertainties; but new energy vehicles will usher in a clear positive.

Zhao Ping, director of the Consumer Economics Research Department of the Ministry of Commerce said that this year will be the first year of electric car consumption. The "trinity" of policies, products, and facilities promotes the development of China's automotive electronics market this year.

At present, new energy vehicle promotion rules have been successively landed in many cities including Beijing, Shanghai and Tianjin. According to the data from the China Association of Automobile Manufacturers, the production and sales of new energy vehicles in China in the first quarter of 2014 all increased by 1.2 times from the same period of last year, and the growth rate was significantly accelerated.

At the 2014 Beijing International Auto Show, which was recently opened, new energy vehicles became the protagonist. The world's first car in the auto show reached 118, including 79 new energy vehicles, accounting for about 70%, including BMW, Volvo, Bentley and other luxury car brands have joined the market.



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