The electric vehicle industry is accelerating its revitalization

In recent years, the Chinese electric bicycle industry has faced new opportunities and challenges. As a major producer and consumer of electric bicycles, China has a total ownership of over 350 million units. With the implementation of the “new national standard” policy, the industry has been enhanced in terms of safety, practicality, and convenience, reducing fire risks and improving battery life. These policies have promoted the standardized development of the industry, reduced disorderly competition, and encouraged enterprises to enhance technological innovation and product upgrades.
Technological innovation and fashion design have become the key to breakthroughs for enterprises. As the younger generation becomes the main consumer force, companies need to develop products that meet their needs to win the market. At the same time, the Chinese electric bicycle industry is mature domestically, but the international market is still in its infancy, and international brand building has become the key to going global.
Two wheeled travel products tend to be high-end, personalized, and intelligent. The increasing awareness of environmental protection and the popularization of green lifestyles have made two wheeled travel products the preferred choice for travel. The “2023 Two Round Green Travel Research Report” shows that the demand for mid to high end products is expanding, and the demand for “short frequency fast” new two round travel is becoming increasingly prominent. In 2023, the industry development trend is improving, with major economic indicators steadily rising, the supply capacity of the mid to high end continues to expand, and the international market is expected to accelerate its recovery.
The policy of exchanging old for new has activated market vitality, and 1.023 million electric bicycles have been sold and exchanged for new ones nationwide, driving new car sales of 2.73 billion yuan. Strengthen planning and coordination in various regions, break through bottlenecks, and form mature experience and practices. The number of sales stores and activities participating in the trade in of electric bicycles has significantly increased.
Leading enterprises continuously improve user experience through branding, products, channels, and other aspects, optimize electrification and intelligence solutions, and focus on technological strength and scale costs to maintain competitive advantages. With the implementation of the national subsidy policy, the inventory of two wheeler channels has rebounded, and the growth of industrial shipments is expected to continue. Enterprises that do not meet production standards will be cleared, and the growth rate of leading businesses will be faster than the industry.