China Emerging EV Automakers (Part 2): NEV Alliance Matrix for 3 Mid-sized Automakers
Hozon New Energy Automobile, Leapmotor, and Aiways Automobile
2021/04/07
- Summary
- Hozon New Energy Automobile: Invested CNY 2 billion to build an intelligent technology R&D center
- Leapmotor: Released the first proprietary in-vehicle AI chip "Lingxin 01"
- Aiways: Focusing on developing overseas markets and developing reformed methanol hydrogen fuel cells
- Correlation diagram of alliances of major emerging EV automakers in China
Summary
 |
| Hozon New Energy Automobile Concept Car Eureka 03 (2020 Beijing Motor Show) |
According to an announcement by the China Automobile Manufacturers Association (CAAM) on March 11, 2021, the production volume of new energy vehicles (NEVs) in February 2021 was 124,000 units, 6.2 times the level in the same month of the previous year. The number of vehicles sold increased 4.8 times year-over-year (y/y) to 110,000 units, increasing from the same month of the previous year for 8 consecutive months in terms of both production and sales. In addition, NEV production from January to February 2021 was 317,000 units, 2.9 times the previous year's level in the same period. Sales volumes increased 2.2 times to 289,000 units. According to CAAM's forecast at the beginning of the year, NEV sales will reach 1.8 million units in 2021.
According to the China Automotive News, the number of emerging Chinese EV automakers decreased from a peak of more than 100 to about 40 in 2020. Of these, only about 10 companies successfully achieved both volume production and sales results. In addition, it was reported that many emerging Chinese EV automakers have been having difficulty surviving since the beginning of 2020. There has been a series of negative news reports on automakers such as Qiantu Motor, REECH, Changjiang Automobile, Singulato, Byton, Saleen, and Bordrin Motors, reports such as the suspension of business operations, bankruptcy, restructuring, and the cessation of production. The global COVID-19 crisis is accelerating the shakeout of brands in the Chinese automotive industry.
In 2020, Zhejiang Hozon New Energy Automobile Co., Ltd. (Hozon) changed the brand logo of its affiliated Neta Automobile (Neta) brand and launched two electric SUV models "Neta U" and "Neta V", unveiling its "Eureka 03" new concept car at the Beijing Motor Show. In 2021, it plans to invest CNY 2 billion to build an intelligent technology R&D center. In October 2020, Leapmotor (Zhejiang Zero Run Technology Co., Ltd.) announced its first independently developed intelligent chip for autonomous driving, dubbed the "Lingxin 01" in Chinese, for which it owns the intellectual property rights. The company's third vehicle model, the "Leapmotor C11” high-end SUV production model was unveiled, making its world premiere at the Guangzhou Motor Show, and the company started accepting pre-orders on January 1, 2021. Aiways Automobile Co., Ltd. (Aiways) is focusing on developing overseas markets and launched vehicles in the European market in August 2020. The company has entered markets such as Germany, France, the Netherlands and Belgium. In addition, the company is focused on the development of methanol-hydrogen fuel cells and their application to automobiles and has established sites for the development and manufacturing of methanol-hydrogen fuel cells in Denmark, Shanxi Province and Xinjiang (Xinjiang Uygur Autonomous Region).
This report mainly introduces the trends of these three mid-sized emerging EV automakers since the second half of 2019.
Related Reports:
China Emerging EV Automakers (Part 1): Top 4 Partnering with Major Tech Companies(Mar. 2021)
2020 Chinese market: New vehicle sales down 1.8%, commercial vehicle sales top 5 million units(Feb. 2021)
Beijing Motor Show 2020: Emerging Chinese EV Automakers(Oct. 2020)
NEV Industry Development Plan: China accelerating the sophistication of the NEV industry(Mar. 2020)
Free membership registration allows you to read the rest of the article for a limited time.