Global New Energy Terminal Boom in June

Domestic: new energy vehicles continue the trend of rapid growth

	NEW ENERGY VEHICLES	QUANTITY	YEAR-ON-YEAR
June	Output	784,000	+32.8 per cent
	Production	806,000	+35.2 per cent
January to June	Output	3.788 million	+42.4 per cent
	Production	3.747 million	+44.1 per cent

 

	TYPE	QUANTITY	YEAR-ON-YEAR
Pure Electric Vehicles	Output	548,000	+17.5 per cent
	Production	573,000	+20.5 per cent
Plug-in Hybrid Electric Vehicles	Output	235,000	+90.5 per cent
	Production	232,000	+93.0 per cent

In June 2023, the market share of new energy vehicles reached 30.7%, with a month-on-month increase of 0.6 percentage points. According to the China Association of Automobile Manufacturers, it is predicted that the sales volume of new energy passenger vehicles in China will reach 8.5 million units in 2023, and the sales volume of narrow passenger vehicles will reach 23.5 million units, with a expected annual penetration rate of new energy vehicles of 36%.

 

Regarding the upstream battery manufacturers in the new energy vehicle industry, there are also certain layouts. Currently, CATL has established bases in Germany, Hungary, and the United States, Guoxuan High-Tech has bases in Germany and the United States, EVE Energy has bases in Hungary and Malaysia, CATL Innovation has a base in Portugal, Farasis Energy has bases in France, the United Kingdom, Japan, the United States, and Spain, Hefei Guoxuan High-Tech Power Energy has a base in Germany, and BYD has a base in Spain (possibly). In addition to battery manufacturers, battery material companies in the middle stream are also accelerating their expansion overseas.

 

In foreign markets: electric car sales in nine European countries reached 240,000 units, with a year-on-year/increase of 31%/25%, and a penetration rate of 23% for the month. In the United States, electric car sales reached 122,000 units, with a year-on-year/increase of 66%/8%, and a penetration rate of 8.9%. The electric vehicle market in Europe and the United States remains strong, and with the negative factors such as the pandemic, supply chain, and trade war gradually receding, the impact is gradually diminishing. The European and American car markets are continuing to recover, and policies provide guarantees for long-term growth in Europe and America. In the long term, the electrification process in Europe is irreversible, and the ban on combustion engines also provides momentum for long-term growth of electric vehicles in Europe. In the future, with an increase in the supply of models, the electrification process in Europe and even overseas is expected to accelerate. Under optimistic circumstances, it is estimated that the total electric vehicle sales in Europe in 2023 will be approximately 3 million units, with a year-on-year increase of 20%.