China Low-speed Electric Vehicle (LSEV) Industry Report, 2019-2025
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July 2019
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In 2018, about 45.42 million low-speed electric vehicles (LSEV) were produced in China, a 3.9% rise on an annualized basis (a 1.6-fold figure compared with China’s output of 27.81 million automobiles in the year), but LSEV witnessed a slowdown in growth rate due to policy impact. With the enforcement of new national standards, the electric vehicle industry gets regulated further and is expected to show a CAGR of 6.0% or so between 2019 and 2025.
The LSEV market is largely dominated by electric bicycle and electric tricycle, both of which held a combined share of roughly 95% by output in 2018.
Electric bicycle: China produced a total of 32.78 million electric bicycles in 2018, representing a CAGR of 14.2% from 2010 to 2018; and ownership of electric bicycles was in excess of 230 million units and showed a CAGR of over 10% during 2010-2018. The fact that the new national standards are being implemented brings about a higher industry threshold. Also, the provinces and municipalities of China have issued their transitional policies for electric bicycle whose growth rate will decelerate in the upcoming years and whose CAGR will stand at 6% to 9% between 2019 and 2025.
Electric tricycles: Due to environmental policies, the Chinese electric tricycle market has been downsizing in the past two years. The output in 2018 posted 10.23 million units with a year-on-year decrease of 1.1%. In 2019, local governments introduced policies to tighten management on electric tricycles (for instance, Shenzhen city plans to cancel all express delivery and sanitation electric tricycles two years later). It is expected that the Chinese electric tricycle market will continue to shrink in the next few years, and the output will fall to 9.44 million units in 2025. Additionally, the less competitive producers have been eliminated amid the sluggish low-speed electric tricycle market, making the branding of the industry more concentrated.
Low-speed electric vehicle (LSEV): In 2018, China issued a policy prohibiting new capacity of low-speed electric vehicles. In 2019, Technical Conditions of Four-Wheel Low-Speed Electric Vehicles was released to drag down the growth rate of the LSEV market sharply. The CAGR in 2010-2018 remained as high as 45.4%, with a slight increase of 0.2% in 2018. As some companies stop producing low-speed electric vehicles to wait for the implementation of technical standards, the LSEV output is anticipated to edge down in 2019.
All-terrain vehicle (ATV): the market starts late in China and has yet to mature, with a small size. In 2018, 1,074,000 ATVs were made in the country, 18.2% more than in the previous year, making the market the only thriving segment in low speed electric vehicle industry. However, over 95% of Chinese ATVs are for export as the country’s demand is limited. Therefore, China’s ATV market is vulnerable to overseas market situation.
In competition, Yadea and Aima are the two key players in the electric bicycle market, together grabbing around 25% shares in 2018; the electric tricycle market is dominated by Kingbon and Zongshen; Levdeo as a bellwether in the LSEV market seized 21.4% shares in 2018, closely followed by YOGOMO 11.2% and Shifeng 7.5%; the ATV market is an oligopoly with Cfmoto Power and Linhai holding a combined over 80%.
In China, a surge in rural road mileage will favor expansion of the LSEV market as such vehicles are hugely demanded in the third- and fourth-tier cities. Also, the issuance of the new national standard will help regulate the market as a boon for its growth in the long run, in spite of a shift in the industry thereof.
The new standard also spurs lithium battery vehicle industry. In 2019, roughly 15% of low speed electric vehicles are expected to carry lithium batteries, compared with a mere 5% in 2013.
China Low-speed Electric Vehicle (LSEV) Industry Report, 2019-2025 highlights the following:
Overview of the LSEV industry in China (definition, classification, Industry Characteristics s, etc.);
Market segment-electric bicycle industry (relevant policies, market size, competitive landscape, development trends, etc.);
Market segment- electric tricycle industry (relevant policies, market size, regional pattern, competitive landscape, etc.)
Market segment-LSEV industry (relevant policies, market size (Shandong and Hebei), competitive landscape, etc.)
Market segment-all-terrain vehicle (market size, regional pattern, market price, competitive landscape, etc.);
Market for relevant key parts (battery, motor, motor controller, and BMS);
16 major LSEV manufacturers (Yadea, AIMA, SUNRA, BYVIN, Jinpeng, Dojo, YOGOMO, Shifeng Group, Tokng, Fulu Vehicle, LEVDEO, Lichi, Rainchst, Hebei Yudea, DURABLEV and Han Tang) (profile, financial position, leading products, etc.) and 7 BMS manufacturers.
1. Overview of LSEV Industry
1.1 Definition and Classification of LSEV
1.2 Industry Characteristics
1.2.1 Intense Competition
1.2.2 Geographical Concentration
1.3 Market Size
2. Development of Two-wheeled Electric Vehicle Industry
2.1 Standard of Two-wheeled Electric Vehicle
2.2 Policies
2.3 Market Size
2.4 Regional Pattern
2.5 Competitive Landscape
2.6 Industry Forecast
3. Development of Three-wheeled Electric Vehicle Industry
3.1 Standard of Three-wheeled Electric Vehicle
3.2 Market Size
3.3 Development in Major Regions
3.4 Competitive Landscape
4. Development of LSEV Industry
4.1 Policies on Four-wheeled Electric Vehicle
4.1.1 National Policies and Standards
4.1.2 Local Policies
4.2 Market Size
4.3 Development in Major Regions
4.3.1 Shandong
4.3.2 Hebei
4.4 Competitive Landscape
4.5 Mini Electric Vehicle
5. Development of All-Terrain Vehicle Industry
5.1 Market Size
5.2 Regional Development
5.3 Market Price
5.4 Competitive Landscape
6. Main Parts Market
6.1 Battery
6.1.1 Status Quo and Trends of LSEV Battery
6.1.2 Major Manufacturers and Competitive Landscape
6.1.3 Products of Major Manufacturers
6.1.4 Advantages and Disadvantages of Major Manufacturers
6.2 Motor
6.2.1 Major Manufacturers and Competitive Landscape
6.2.2 Products of Major Manufacturers
6.2.3 Advantages and Disadvantages of Major Manufacturers
6.3 Motor Controller
6.3.1 Major Manufacturers and Competitive Landscape
6.3.2 Products of Major Manufacturers
6.3.3 Advantages and Disadvantages of Major Manufacturers
6.4 BMS
6.4.1 Technical Analysis
6.4.2 Market Analysis
7. Chinese LSEV Manufacturers
7.1 AIMA
7.1.1 Profile
7.1.2 Operation
7.1.3 Production
7.1.4 Major Products
7.1.5 Production Bases
7.1.6 Sales Network
7.2 Yadea
7.2.1 Profile
7.2.2 Operation
7.2.3 Revenue Structure
7.2.4 Marketing Network
7.2.5 Production Bases
7.3 BYVIN
7.3.1 Profile
7.3.2 Electric Bicycle
7.3.3 Electric Tricycle
7.3.4 LSEV
7.3.5 Main Production Bases
7.3.6 Smart Electric SUV BYVIN V7
7.4 SUNRA
7.4.1 Profile
7.4.2 Operation
7.4.3 Revenue Structure
7.4.4 Production and Marketing
7.4.5 Two-wheeled Electric Vehicle
7.4.6 Electric Tricycle
7.4.7 Electric All-terrain Vehicle
7.4.8 Marketing Network
7.4.9 Production Bases
7.4.10 Investment Projects by IPO
7.5 Jinpeng
7.5.1 Profile
7.5.2 Major Products
7.5.3 Main Production Bases, and Production and Sales
7.5.4 Full-series Lithium Battery Product Launched
7.6 YOGOMO
7.6.1 Profile
7.6.2 Output and Sales Volume
7.6.3 Independent Operation of YOGOMO Brand
7.6.4 Major Products
7.6.5 YOGOMO’s Main Production Bases
7.6.6 YOGOMO Renamed as LinkTour
7.7 Shifeng Group
7.7.1 Profile
7.7.2 Operation
7.7.3 Production
7.7.4 Shifeng Central Research Institute
7.7.5 Strategic Planning
7.8 Tokng
7.8.1 Profile
7.8.2 Major Products
7.8.3 Strategic Cooperation between Shandong Tangjun Ouling Automobile Manufacture and Camel Group
7.9 Fulu Vehicle
7.9.1 Profile
7.9.2 Major Products
7.9.3 Fulu Vehicle Invested RMB 160 mln to Establish Test Center
7.9.4 Fulu Vehicle Opened Li-ion Battery Era
7.9.5 Strategic Adjustment
7.10 Dojo
7.10.1 Profile
7.10.2 Major Products
7.10.3 Production Bases and Capacity
7.10.4 Dojo’s Gaoyou Base Was Officially Put into Operation
7.11 LEVDEO
7.11.1 Profile
7.11.2 Major Products
7.11.3 Production Base
7.11.4 Important Technology
7.12 Lichi
7.12.1 Profile
7.12.2 Revenue
7.12.3 Major Products
7.12.4 Development Strategy
7.13 Rainchst
7.13.1 Profile
7.13.2 Major Products
7.13.3 Production Bases
7.14 Hebei Yudea New Energy Technology Group Co., Ltd.
7.14.1 Profile
7.14.2 Major Products
7.14.3 Production Base
7.14.4 Main Qualifications
7.14.5 Yudea’s 200,000 NEVs/a Project Makes Its Home in Neijiang, Sichuan
7.15 DURABLEV
7.15.1 Profile
7.15.2 Major Products
7.16 Han Tang Electric Vehicle
7.16.1 Profile
7.16.2 Major Products
7.16.3 Development Strategy
8. LSEV BMS Manufacturers
8.1 Shenzhen Tian-Power Technology Co., Ltd.
8.1.1 Profile
8.1.2 Major Products
8.2 Addenda Technology (Guangzhou) Co., Ltd.
8.2.1 Profile
8.2.2 Major Products
8.3 Shenzhen Guoxin Power Technology Co., Ltd.
8.3.1 Profile
8.3.2 Major Products
8.3.3 Partners
8.4 Jiangxi Keran Technology Co., Ltd.
8.4.1 Profile
8.4.2 Major Products
8.5 Hangzhou Gold Electronic Equipment INC., Ltd.
8.5.1 Profile
8.5.2 Major Products
8.6 Changsha Juli Electric Technology Co., Ltd.
8.6.1 Profile
8.6.2 Major Products
8.7 Xi’an Jindee Electrical Technology Co., Ltd.
8.7.1 Profile
8.7.2 Major Products
Main Classifications of LSEVs
Main Types of Tricycles on the Market
Economic Benefits Comparison between LSEV and Other Types of Vehicles
Main Applications of LSEV
Output of LSEV by Product in China, 2017-2025E
Technical Standards of Electric Bicycle (1999 Version, 2015 Amendment, and 2018 Draft)
Policies on Electric Bicycle in China in Recent Years
Electric Bicycle Forbidding Policies Promulgated by Some Cities in China
Adjustment of New National Standard Policy on Electric Bicycle
Areas that Launched Electric Bicycle Transition Policy as of June 2019
Output of Electric Bicycles in China, 2010-2025E
Ownership of Electric Bicycles in China (million units), 2009-2025E
Production Structure of Electric Bicycles by Region in China, 2018
Ranking of Electric Bicycle Manufacturers by Sales Volume in China, 2018
Mileage of Rural Roads in China, 2013-2019
Market Structure of Electric Bicycles (by Battery Type) in China, 2013-2019
Key Reference Indicators in Technical Requirements on Electric Tricycle for Express Delivery
China’s Electric Tricycle Output, 2014-2025E
China’s Electric Tricycle Output by Market Segment, 2018
China’s Electric Tricycle Ownership, 2009-2025E
Major Electric Tricycle Production Bases and Sales Regions in China
China’s Electric Tricycle Competition Pattern, 2018
Partial Contents of Three Meetings of Work Team for Low Speed Electric Vehicle Standard Formulation, 2016
Local Policies on LSEV in Major Regions
Interpretation of Local Policies and Regulations on LSEV in Recent Years
Regulations on LSEV in Shandong (Trial) (Part)
Regulations on LSEV in Some Cities in Shandong
Provisions on Relevant Technical Indicators in Regulations on LSEV in XingtaiCity (Trial)
China’s Low-speed Electric Vehicle Output, 2010-2025E
China’s Low-speed Electric Vehicle Ownership, 2010-2025E
Geographical Distribution of China LSEV Industry
Shandong’s Low-speed Electric Vehicle Output, 2010-2025E
National Share of Shandong’s Low-speed Electric Vehicle Output, 2018
Shandong’s Monthly Low-speed Electric Vehicle Output, 2016-2019
Low Speed Electric Vehicle Sales Distribution in China, 2018
Major LSEV Players in China
Ranking of Chinese Low Speed Electric Vehicle Manufacturers by Sales Volume, 2015-2018
Changes in Requirements on Subsidies for New Energy Passenger Vehicle, 2017 & 2018 & 2019
Subsidies for New Energy Passenger Vehicle, 2017 vs 2018 vs 2019
Main Technical Indicators of Some Best-selling Minicars
Main Approaches of Low Speed Electric Vehicle Manufacturers to Obtain Electric Vehicle Production Qualification
ATV (All-Terrain Vehicle) Output in China, 2009-2025E
ATV Sales Volume in China, 2010-2025E
Export Volume of All-Terrain Golf Cart in China, 2013-2019
ATV Sales Volume in China’s Main Regions, 2018
Price Comparison of ATV in China and Overseas Countries
Most-Applied ATVs in China
ATV Manufacturers in North America
Ranking of Sightseeing Vehicle Manufacturers in China by Sales Volume, 2017-2018
Export of Major ATV Players in China, 2017
Sales Volume of Forklift in China by Market Segment, 2015-2019E
Performance Comparison of EV Batteries
Comparison of Typical Lead-acid and Lithium Battery Vehicles
Major Battery Supplier’s Share in Two-wheeled and Three-wheeled Electric Vehicle Market, 2018
Major Battery Suppliers’ Share in Low-speed Electric Vehicle Market, 2018
Chaowei Power’s Main Batteries for LSEV
Tianneng Power’s Main Batteries for LSEV
Sacred Sun’ s Sealed Lead-acid Batteries for Electric On-road Vehicle
Comparison of Chaowei Power and Tianneng Power
Economical Efficiency Comparison of Motor for LSEV
Capacity of Major Motor Manufacturers in Two-wheeled and Three-wheeled Electric Vehicle Industries in China
Motor Supply Relationship for LSEV in China
Shandong Xindayang’s Main Motors for Two-wheeled and Three-wheeled Electric Vehicles
Ananda’s Main Motors
Boyu’s Main Motors of LSEV
YuchengFutong Motor’s Main Motors
Motor Controller Scheme for LSEV
Capacity of Major Manufacturers of Motor Controller for Electric Bicycle in China
Capacity of Major Manufacturers of Motor Controller for Electric Vehicle in China
Deyang Electronic Technology’s Main Motor Controllers
Ananda’s Main Controllers
Wuxi Jinghui Electronics’ Main EV Controllers
Tianneng Power’s Main Motor Controllers
Shanghai Edrive’s Motor Control Systems for LSEV
Tianjin Santroll Electric Automobile Technology’s Main Motor Controllers for LSEV
V&T’s Main EV Controllers
LSEV Motor Controller Products of Zhuhai Enpower Electric
Major LSEV BMS Manufacturers in China
Revenue and Net Income of AIMA, 2015-2018
Revenue Structure of AIMA by Product, 2015-2018
AIMA’s Electric Vehicle Output, 2010-2019
Performance Parameters of MINE and Snow Leopard, AIMA’s Two Main Brands
AIMA’s Main Electric Vehicles and Their Performance
Revenue from Top 5 Clients of AIMA, 2016-2017
Procurement of Top 5 Suppliers of AIMA, 2016-2017
Main Production Bases of AIMA
Capacity of AIMA’s Main Production Bases and Investment
EV Distribution Network of AIMA
Revenue and Net Income of Yadea, 2013-2019
Yadea’s Revenue from Major Products, 2013-2018
Yadea’s Sales of Major Products, 2013-2018
Distribution of Yadea’s Distributors Nationwide by end of 2016
Profile of Yadea’s Wuxi Headquarters
Profile of Yadea’s Zhejiang Base
Profile of Yadea’s Tianjin Base
Profile of Yadea’s Guangdong Base
BYVIN’s Main Two-Wheeled Electric Vehicles
Configuration Parameters of BYVIN’s Main Electric Bicycles
BYVIN’s Main Three-wheeled Electric Vehicles
Main Parameters of BYVIN Spring Breeze Electric Tricycles
Main Parameters of BYVIN M8 Electric Vehicle
Main Parameters of BYVIN M7 Electric Vehicle
Main Parameters of BYVIN M6 Electric Vehicle
Major New Energy Power Technologies of BYVIN
Main Two-wheeled Electric Vehicle Products Bases of BYVIN
Distribution of BYVIN’s Production Bases
BYVIN’s Electric Vehicle Production Bases and Capacity Expansion Plans
Key Performance Indicators of BYVIN V7
Xinri’s Revenue and Net Income, 2014-2019E
Xinri’s Revenue by Product, 2014-2018
Xinri’s Revenue by Region, 2014-2018
Xinri’s Electric Bicycle Capacity, Output and Sales Volume, 2014-2018
SUNRA’s Major Two-wheeled Electric Vehicles
Environmental Effect Assessment of SUNRA’s Electric Bicycle Projects
SUNRA’s Major Three-wheeled Electric Vehicles
SUNRA’s Major AVTs
Distribution of Xinri’s Dealers
Basic Information of Tianjin Xinri
Basic Information of Hubei Xinri
Basic Information of Guangdong Xinri
Jinpeng’s Main Electric Vehicles
Capacity of Some Production Bases of Jinpeng
YOGOMO’s Sales Volume of LSEV, 2011-2019
Three Electric Vehicle Brands and Market Segmentation of YOGOMO
Main Configuration Parameters of YOGOMO 330
Main Configuration Parameters of YOGOMO Q Electric Vehicle
Main Configuration Parameters of YOGOMO A260 Electric Vehicle
Main Configuration Parameters of YOGOMO S325 Electric Vehicle
Main Configuration Parameters of YOGOMO X260 Electric Vehicle
Main Configuration Parameters of YOGOMO X6320 Cargo Van
Main Configuration Parameters of YOGOMO M6320
YOGOMO’s Main Production Bases and Products
Capacity and Products of YOGOMO's Main Production Bases
Marketing Network of Shifeng Group
Operating Revenue and Profits & Taxes of Shifeng Group, 2010-2019
Vehicle and Electric Vehicle Output of Shifeng Group, 2010-2019
Distributor Distribution of Tangjun
Main Performance Parameters of Tangjun Ouling T1 Electric Vehicle
Main Performance Parameters of Tangjun Ouling A6 Electric Vehicle
Main Performance Parameters of Tianshi Cheshen Electric Vehicle
Main Performance Parameters of FuluLetu
Main Performance Parameters of FuluLechi
Main Performance Parameters of FuluMeike
Main Performance Parameters of Fulu New Xiangrui (FLE360-F)
Main Performance Parameters of Fulu Q7
Main Technical Parameters of Dojo Pilot
Main Technical Parameters of Dojo CooYes
Main Technical Parameters of Dojo Dream Achiever
Parameters of Dojo Pioneer S
Main Production Bases of Dojo
Configuration Parameters of D80 Low-speed Vehicle
Main Configuration Parameters of D50 LSEV
Main Configuration Parameters of D70 LSEV
Configuration Parameters of LEVDEO Little Prince LSEV
Configuration Parameters of LEVDEO S50 LSEV
Configuration Parameters of LEVDEO LOTTO
LEVDEO i-Life Battery management System Technology
LEVDEO i-Control Motor Control Technology
LEVDEO Ladder Recycling of Lithium Batteries
Revenue and Net Income of Lichi, 2014-2019E
Mini (Low Speed) Electric Car Sales Volume of Lichi, 2014-2019E
Parameter Comparison of Lichi’s Main Electric Vehicles
Main Parameters of Rainchst A00 EV
Main Parameters of Rainchst A0 EV
Main Parameters of Rainchst A EV
Main Parameters of Rainchst MMPV EV
Main Parameters of Rainchst Electric Mini-trucks
Main Parameters of Rainchst Electric Sports Cars
Main Parameters of Rainchst Electric Sightseeing Vehicle
Main Technologies Adopted in Rainchst’s Production Bases
Main Technical Parameters of Xinyuzhou Yudea’s Electric Police Cars
Main Technical Parameters of XinyuzhouYudea’s Electric Sightseeing Carts
Main Parameters of Yudea T80
Main Parameters of Yudea T60
Main Parameters of Yudea T70
Main Production Bases of Yudea Group
Lithium Battery-powered Electric Vehicles of DURABLEV
History of Weifang Han Tang New Energy Vehicle Technology
Major Performance Parameters of Han Tang A1
Major Performance Parameters of Han Tang A3
Major Performance Parameters of Han Tang A6
Major Performance Parameters of Han Tang Q3
Major Performance Parameters of Han Tang Lingka
R&D Teams of Shenzhen Tian-Power Technology
List of Tian-Power’s BMS Products
Main Technical Parameters of Tian-Power’s LSEV BMS Products
List of Addenda’s Integrated Series of BMS
List of List of Addenda’s Distributed Series of BMS
Specifications for Reference of Product Tests
Guoxin Power’s Integrated BMS Series
Guoxin Power’s Distributed BMS Series
Guoxin Power’s Major Partners
BMS Products of Gold Electronic
BMS AIO Legend of Gold Electronic
Technical Parameters of Gold Electronic’s BMS AIO
Gold Electronic 10S BMS Module -EVBMM-1022
Low Speed Lithium Electric Management System --EViBMM-2412, 3212
BMS Products of Changsha Juli Electric Technology
Changsha Juli Electric Technology’s BMS Products for Low-speed EVs
Battery Monitoring Modules and Systems of Xi’an Jindee Electrical Technology
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