Looking back on the past decade, the global new energy vehicle industry has undergone unprecedented major changes in market landscape, consumer preferences, technological routes, and supply chain systems. According to statistics, global new energy passenger car sales have grown at an annual compound growth rate of over 60% in the past four years. In the first half of 2024, China’s new energy vehicle production and sales were 4.929 million and 4.944 million units respectively, up 30.1% and 32% year-on-year. In addition, the market share of new energy vehicles reached 35.2%, highlighting the increasing importance of new energy vehicles in the overall automotive market.

New energy vehicles have become an era trend, not only driving the rapid rise of new car manufacturers, but also attracting more new supply chain players to enter the market. Among them, the automotive aluminum, solid-state batteries, and autonomous driving sectors have seen rising popularity. In today’s era where accelerating the formation of new quality productive forces is the main theme, the downstream supply chain is writing a new chapter for the rapid development of global new energy vehicles.

The penetration rate of new energy vehicles is gradually increasing, and leading car manufacturers have gradually formed.

The automotive industry is rapidly developing towards electrification, intelligence, and greenization, which has become a common consensus globally to address climate change and promote low-carbon economic growth. Riding on the wind of policies, the growth of new energy vehicles has become an irresistible trend, and the transformation and upgrading of the industry has been accelerated. The new energy vehicle market in China has been Despite this, with years of industry accumulation and market refinement, domestic companies have emerged such as CATL, Shuanglin Stock, Duoli Technology, and Suzhou Lilaizhi Manufacturing, which are excellent enterprises that have made steady progress by staying grounded and focusing on commercial logic and the comprehensive strength of the industrial chain. They have been striving to catch up with the industry and add luster to new energy vehicles.

Among them, CATL, as the industry leader in power battery, ranks first in global and Chinese market shares, with a clear advantage. The BMS (battery management system) + PACK business model adopted by CATL has become the main business model of leading enterprises in the industry. Currently, the domestic BMS market is relatively concentrated, with many third-party vendors, and OEMs and battery manufacturers are accelerating their layout. CATL is expected to stand out from the competition in the future industry competition and capture a larger market share based on its early entry advantage.

In the auto seat parts field, Shuanglin Stock, as an established enterprise, started to develop its own seat level driver in 2000, and its technological breakthrough has achieved parity with international players in many performance indicators. Its seat adjuster, level slide motor, and backrest angle motor have already received orders from relevant customers, and its performance is expected to continue to be released as the auto industry expands.

Auto stamping and cutting parts are indispensable key components in the overall vehicle manufacturing process. After years of industry washing, the competitive landscape has gradually stabilized. Duoli Technology, as one of the many high-quality auto stamping parts enterprises, has strong capabilities in mold design and development, automation production, and can meet the development requirements of OEMs at different stages. In recent years, Duoli Technology has benefited from the vehicle cycle in both domestic and overseas markets, and the “stamping mold + stamping parts” track has been widely Its steel and aluminum cutting products accounted for 85.67% of its main business revenue in the first half of 2023, and the growth potential of its business is closely related to the development prospects of automotive aluminum. In 2022, the company purchased and sold about 50,000 tons of aluminum for automotive bodies, accounting for 15.20% of China’s automotive body aluminum shipments. Its market share is expected to steadily increase with the mainstream trends of lightweighting, new energy, etc.

Overall, in the background of the rapid increase in the penetration rate of new energy vehicles, the market demand for high-quality auto parts suppliers is expected to continue to expand. At the same time, as intelligentization and lightweighting become the main development directions of car manufacturers, Chinese auto parts enterprises are expected to leverage their cost advantages, advanced manufacturing capabilities, quick response, and synchronized R&D capabilities to further boost the global market share of Chinese new energy vehicles.