Under the current global environmental protection trend of advocating renewable energy conservation and emission reduction, the renewable energy industry has become the focus of world attention. 

Among them, the development of the electric vehicle industry has been listed as an important position, and the world has begun to enter the era of vigorous development of new energy vehicles. At present, under the background of China's "carbon peak-carbon neutral" key target policy,  New energy electric vehicles industry is ushering in a super big space for development.

In the first half year of 2021, the revenue of 57 electric vehicle companies listed in the renewable energy industry has all increased, and 11 of them have doubled their revenue. Wind statistics show that in the first half of 2021, the revenue of Chinese electric vehicle was 4.947 billion RMB. In other words, half of the electric vehicle industry companies' revenue exceeded this value.

Increased penetration

The development of new energy vehicles is one of the important forces in the development and transformation of Chinese electric vehicle manufacturing industry. According to the "Renewable energy Industry Development Plan (2021-2035)" issued by the China Council, by 2025, the sales of electric car and new vehicles will reach about 20% of the total sales of new vehicles, and highly autonomous vehicles will achieve restricted areas and specific scenarios. Commercial applications have significantly improved the convenience of charging and replacing services.

The data shows that from January to June 2021, the global sales of electric vehicles 2021 reached 2.41 million, and the penetration rate increased to 6%, an increase of 2% over the same period in 2020. Among them, China renewable energy market continued to exert strength, and the penetration rate rapidly increased to 11%, an increase of 5% over the same period in 2020, leading the global penetration rate.

The penetration rate of New Energy Car industry in China has increased significantly, and its competitiveness has increased significantly. According to the forecast of the China Automotive Association, China's auto market will grow steadily in the future. In 2025, car sales are expected to reach 30 million, and sales in 2030 are expected to exceed 35 million. That is, the compound annual growth rate of China's autos is expected to remain around 3.5% in the future.

In August of this year, the production and sales of new energy vehicles were 309,000 and 321,000 respectively, a year-on-year increase of 1.8 times. According to information from the China Automotive Association: "The penetration rate of new energy vehicles in August has increased to 17.8%, and the penetration rate of new energy passenger vehicles is even closer to 20%. According to this development, China is expected to achieve 20% of Electric Cars in 2025 ahead of schedule. Mid- to long-term planning goals for market share."

However, from the current new energy vehicles market situation, the performance of electric vehicle companies is divided. From the perspective of global competition, the global concentration of new energy cars is relatively scattered, and the top 10 auto companies have a combined market share of less than 60%. New energy carcompanies are dominated by Tesla + European + Chinese local new energy car brands. In 2020, Chinese electric car manufacturers BYD and SAIC-GM-Wuling will squeeze into the top 5 in global sales, and another electric car company- BAIC New Energy Car company will exit the top 10.

In terms of hot-selling models, according to statistics, in July, 7 of the top 10 new energy cars hot-selling models were pure electric vehicle models. The top five were SAIC-GM-Wuling Hongguang MINI EV (26,900 units ) and Tesla Model 3 (22,600 units), Tesla Model Y (10,400 units), and Changan New Benben EV (8,700 units). According to the China Automotive Association's total sales of pure electric vehicles in July (206,000 units), the four models accounted for 33.3% of the total. From this data we also can see, small electric car on sale are more hot and favorable for Chinese people.

Industry chain outbreak

In the context of carbon neutrality, the global sales of electric vehicles ushered in a period of rapid growth, manifested by a rapid compound growth rate and a long period of growth. The renewable energy industry is still in a booming stage, stimulating the explosion of demand in the new energy vehicle industry chain and achieving high performance growth. With a better guarantee, the concentration of leading electric vehicles companies in each link is continuously increasing.

In the first half of 2021, the high prosperity of the new energy car industry continues, and there is a structural mismatch between rapid demand growth and insufficient supply matching. Upstream resources and some listed companies of lithium battery materials benefit from price increases and have high performance flexibility. Battery manufacturers rely on strong industrial chain discourse Right earnings maintain a certain degree of resilience. With the accelerating launch of new domestic models with more product power, subsidy policies and new carbon emission regulations drive the increase in the electrification rate in Europe, and the better electric vehicle policy in the United States. Tesla continues to lead the global electric smart wave and judges the global trend in 2022. The new energy vehicles industry is expected to continue its high growth.