1. In the era of subsidies for new energy vehicles, motor electronic control companies face the following challenges:
(1) The subsidy of new energy vehicles has led to a wave of price cuts.
In 2015, the output of China's new energy buses, special vehicles and passenger vehicles was 124,700, 47,800 and 206,400 respectively. On the whole, in 2015, due to the large shipments of new electric passenger car electric control and the high unit price of the powertrain system, the motor electronic control company maintained a high gross profit margin. In the first three quarters of 2016, the output of new energy buses, special vehicles and passenger vehicles in China was about 48,800, 0.91, and 244,000, respectively. New energy vehicles still maintained a growth trend, but the growth rate dropped significantly.
From the perspective of models, passenger cars have the largest market space and the lowest penetration rate, which will maintain high-speed growth and become the core position of the market; the passenger car market returns to the essence of commercial vehicles, and its big rise disappears; the logistics vehicle market needs to wait for the policy to land. If landing, it is expected to usher in the release of demand.
From the field of electric motor electronic control, the production volume of new energy buses with large single-customer shipments and high unit price of powertrain systems has dropped significantly; in addition, the subsidies for new energy vehicles have become a trend, and the new energy automobile industry chain will attract A wave of price cuts, while lithium battery and motor electronic control companies located in the middle of the industry chain are closely related to automakers, and the impact may be even greater, and motor electronic control profits will be greatly affected.
(II) Capital competition and market competition intensified
According to the incomplete statistics of the electric vehicle resource network, there are nearly 50 listed companies involved in motor electronic control. With the acceleration of the research and development process of domestic new energy automobile motor controller manufacturers and the launch of mature products, and the strengthening of foreign-invested enterprises participating in domestic competition, the competition in the electric motor controller market in the future is intensifying.
For motor electronic control companies, the market with increased competition means that the industry is optimistic and has huge market space. On the other hand, due to increased market competition, it may be difficult for enterprises to expand new business and create new profit points. It is possible to lose existing customers and the market share will decline.
(3) The self-sufficiency rate of auto companies gradually strengthens the shrinking market space
According to the installed data of new energy vehicles announced by the China National Machinery Center, from January to July 2016, the total installed capacity of new energy automobile motors in China reached 184,654 units, and the total number of motor suppliers was 128, of which 36 were motor vehicles. The number of enterprises is 92. On the whole, more than 30 car companies involved in the field of motor electronic control, equipped with corresponding motor electronic control for their models, with an installed capacity of 102,363 units, accounting for 55.44% of the total installed capacity. Car-owned motors and controllers have occupied half of the country, and there is an increasing trend.
From the perspective of market development, although the new energy vehicles are still growing rapidly, the focus of the host manufacturers on the core technologies is increasing. The independent research and development of motor electronic control is the trend of the times, including the enterprises that make cars on the Internet. Independent research and development, such as Weilai Automobile, and its investment in the production base of electric and electronic control systems with the Nanjing Municipal Government of 3 billion yuan was completed in April this year. The market space for motor electronic control companies is shrinking.
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