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AutoTrends Weekly

时事   2024-06-11 07:55   北京  


Preface


This issue of AutoTrends Weekly focuses on the Chinese government's latest efforts to stimulate NEV consumption as well as the global auto industry's development trends in shared mobility, connectivity, electrification, and autonomous driving. The key points covered in this article include:

China adjusts technical requirements for energy-saving and NEVs eligible for vehicle and vessel tax breaks (ce.cn, Jun. 5)

Global car-sharing market to reach $15.4 billion by 2028 (TechReport, Jun. 4)

China to boost policy support for smart cars (China Daily, Jun. 4)

China gives first approvals for public trials of advanced autonomous driving (Reuters, Jun. 4)

Electric cars market to be worth $5,634.6 billion by 2031 (PRNewswire, Jun. 4)

01

Policies & Market

China adjusts technical requirements for energy-saving and NEVs eligible for vehicle and vessel tax breaks

  • China’s Ministry of Industry and Information Technology (MIIT) recently issued the "Announcement on Adjusting the Technical Requirements for Energy-Saving and New Energy Vehicles Eligible for Vehicle and Vessel Tax Breaks", which will be implemented from Jul. 1, 2024.

  • The technical requirements for new energy passenger vehicles include: plug-in hybrid passenger vehicles, including extended-range electric vehicles, must have an all-electric range of no less than 43km; during the power maintenance mode test, the fuel consumption of a plug-in hybrid passenger vehicle should be less than either 60% or 65% of the corresponding vehicle type's fuel consumption limit depending on whether its curb weight reaches at least 2,510kg. (ce.cn, Jun. 5)




02

Shared Mobility

Global car-sharing market to reach $15.4 billion by 2028

  • The global car-sharing market is expected to grow to $15.4 billion, with a projected a CAGR of 14.04%, according to a recent report from TechReport.

  • By 2028, the number of car-sharing users worldwide is expected to rise to almost 65 million.

  • Car sharing allows urban residents to access cars short-term without the costs of maintenance, parking, and insurance. In areas with limited parking, it offers a cost-effective and sustainable solution.

  • Car sharing offers a chance for consumers to test out the EVs before buying while also reducing their carbon emissions. (TechReport, Jun. 4)




03

Connectivity

China to boost policy support for smart cars

  • China will enhance its policy support to accelerate the development of emerging industries such as smart connected vehicles, according to an official and experts.

  • The MIIT said it plans to allocate a total of 100 million 11-digit mobile network numbers dedicated to facilitating communication among vehicles, and between vehicles and the back-end management systems of carmakers.

  • Consulting firm McKinsey & Co has predicted that China will become the world's largest market for autonomous vehicles, with revenue from such vehicles and mobility services exceeding $500 billion by 2030. (China Daily, Jun. 4)


Automotive connected car platform market to grow by $6.57 billion from 2024-2028

  • The global automotive connected car platform market is estimated to grow by $6.57 billion from 2024-2028, according to a recent report from Technavio.

  • Increased focus of OEMs on the development of autonomous and connected vehicles is driving market growth, with a trend towards rental companies adopting the connected car platform to attract customers.

  • The connected car market is experiencing significant growth with advanced technologies such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications becoming trendy.

  • The adoption of 5G technology is expected to further boost the market, enabling faster data transfer and more advanced services. (Technavio, Jun. 7)




04

Autonomous Driving

China gives first approvals for public trials of advanced autonomous driving

  • China has granted approval to the first group of nine automakers to carry out tests on vehicles with advanced autonomous driving technologies on public roads.

  • The tests of so-called level three autonomous driving technologies will be carried out by automakers including BYD and NIO, as well as major state-owned manufacturers such as Changan Automobile, GAC, and SAIC, according to a statement published by the industry ministry on Jun. 4.

  • The ministry said the trial would pave the way for further commercialization of more advanced autonomous driving technologies, without elaborating. Automaker executives said it was a step closer to allowing level three vehicles to be sold to, and used by, individual buyers and fleet operators. (Reuters, Jun. 4)



05

Electrification

Electric cars market to be worth $5,634.6 billion by 2031

  • The electric cars market is expected to reach $5,634.6 billion by 2031, at a CAGR of 29.2% from 2024–2031, while in terms of volume, the market is expected to reach 140.7 million units by 2031, at a CAGR of 27.7% from 2024–2031, according to a recent report from PRNewswire.

  • The growth of the electric cars market is driven by supportive government policies and regulations, increasing investments by leading auto OEMs, rising environmental concerns, and decreasing battery prices.

  • The growing adoption of autonomous driving vehicles and increasing focus on electric mobility in emerging economies are expected to offer significant growth opportunities for players operating in the electric cars market. (PRNewswire, Jun. 4)


All-solid-state batteries rise in China's EV field

  • Accelerated efforts of both the Chinese government and the private sector are expected to lead to the installation of all-solid-state batteries in EVs by 2027 nationwide and mass production of such batteries by 2030 at the latest, said auto industry insiders.

  • China will likely adopt a dual-track approach to the development of EV batteries.

  • China is expected to achieve small-scale demonstration installations of all-solid-state batteries in vehicles by 2027, and mass production by 2030, said Zhou Anjian, a former executive of Changan Auto. (China Daily, Jun. 5)





Read More

SALES ANALYSIS OF CHINESE NEV MARKET IN APRIL 2024



Infoturbo (previously known as NewsTurbo) is China's first English-language automotive news WeChat account that offers sophisticated insights into the industry, with a focus on the government's auto industry policies, and the latest tech trends like car sharing, connectivity, electrification, and autonomous driving.



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