With A Market Of More Than 2 Million Low-speed Electric Vehicles, The Future Is Immeasurable

- Dec 08, 2020-

 Pure electric vehicles generally refer to four-wheel low-speed vehicles driven by pure electric vehicles. Generally, the maximum speed is set at 40-70km/h, with no more than 4 seats.According to "Technical Conditions of Micro-low Speed Electric Vehicle", micro-low speed electric vehicle is a four-wheel vehicle (including passenger, cargo and special vehicle) driven by pure electricity. The whole vehicle mass is less than 1500kg, and the designed maximum speed is less than 70km/h. The driving energy comes from the on-board energy storage device, which is suitable for driving in urban and rural roads. Low-speed electric vehicles are mainly used for household use, urban sightseeing and official vehicles.


Released according to the 2018-2023 China's depth of low-speed electric car industry market research and development prospect forecast report showed that more than 70% of the population living in three or four line city and the countryside, the population density is low, the daily travel distance is shorter, per capita income is not high, the objective conditions for developing cost-effective electric vehicles at low speed, used for daily travel short distances. Low-speed electric vehicles do not require large-scale charging stations and their infrastructure costs are low. Therefore, low speed pure electric vehicles have gained rapid development in third - and fourth-tier cities and the vast rural market. From 2013 to 2017, the domestic market demand scale of low-speed pure electric vehicles showed a trend of rapid increase, but the growth rate dropped significantly in 2016 and 2017, mainly due to the increasing popularity, large market base of the industry, product price decline and other factors. In 2017, the domestic market demand for low-speed pure electric vehicles reached 28.934 billion yuan, with a year-on-year growth of 8.5%.


Due to low barriers to entry, big market space, gathered in the low-speed electric car industry in recent years, a large number of enterprises in the majority with private enterprises, and mostly no passenger car production qualification, generally small, competitiveness, the early stage of the enterprise to expand market share, occupy the market leading position as the goal, in product sales, price competition is intense; At present, as the market gradually becomes rational, enterprises gradually turn to brand competition and technology competition, but sales competition and price competition are still the main forms of competition among enterprises.China's low-speed electric vehicles will enter a period of steady development, and the market demand growth rate will remain between 8.5% and 10.3%. At the same time, the penetration rate of low-speed electric vehicles will gradually increase in third-tier and fourth-tier cities and rural markets, and will also develop in first-tier and second-tier cities. It is estimated that the demand of low-speed pure electric vehicles in China in 2023 will be 199.3,000, with a year-on-year growth of 9.5%.


As a light and low-speed new-energy electric vehicle enterprise integrating research and development, production and sales, Today Sunshine has been adhering to independent research and development, constantly improving and expanding the development road of new-energy electric vehicle industrialization. At the same time, Today Sunshine constantly strives to improve the overall quality, performance and safety of electric vehicles, so that the products can stand out among many low-speed electric vehicles brands and are unanimously recognized by the majority of consumers.