Author: Wei Zhongyuan

  On February 14, local time, the European Parliament in Strasbourg passed the 2035 European proposal to stop the sale of fuel-engined vehicles with 340 votes in favor, 279 votes against and 21 abstentions.

  Fuel vehicles will withdraw from the soil where they were born in the past, which is undoubtedly a great benefit for domestic new energy vehicles to "go to sea".

With the cancellation of domestic subsidies and increasingly fierce competition, export is regarded as the main growth point of domestic new energy vehicles.

  According to statistics from China Business News, as of the first half of 2022, among the 60 listed companies in the A-share new energy vehicle sector, 20 overseas business accounted for more than 20% of the total revenue, but mainly lithium batteries, upstream materials and components , the overseas revenue of OEMs is relatively low, and there is more room for improvement in the future.

There is still a lot of room for improvement in the overseas business of complete vehicles

  Among the domestic new energy vehicle brands, BYD (020594.SZ) ranks first in terms of export scale. The company said in a recent survey by an agency that its new energy passenger vehicles have entered more than 40 countries and regions including Japan, Germany, Australia, and Brazil. The cumulative export in 2022 will be close to 56,000 vehicles.

  At the same time, BYD is also a domestic brand that has deployed overseas factories earlier.

In September last year, BYD Auto Thailand Co., Ltd. signed a contract with WHA Weihua Group Volkswagen Co., Ltd., and the first overseas passenger car factory officially landed in Thailand. It is expected to start operation in 2024, with an annual production capacity of about 150,000 vehicles. Go to the local market in Thailand, and at the same time radiate to neighboring ASEAN countries and other regions.

  A reporter from China Business News found that as of the first half of 2022, among the 60 listed companies in the A-share new energy vehicle sector, 46 have overseas business, and 20 companies have overseas business accounting for more than 20% of their total revenue.

Overall, the average overseas revenue of these 46 companies accounted for 23.6% of total revenue.

  Among them, Joyson Electronics (600699.SH) accounted for the highest proportion, accounting for 76.32%, with an overseas revenue scale of 17.491 billion yuan; Loncin General (603766.SH) ranked second, accounting for 69.84%.

Lithium battery and material listed companies such as Sunwoda, Yiwei Lithium Energy, and Ganfeng Lithium Industry also have a relatively high proportion of overseas business.

  Companies with a relatively high proportion of overseas revenue are mainly concentrated in lithium batteries, upstream materials and components. The overseas revenue of OEMs is relatively low, and there is more room for improvement in the future.

Great Wall Motor (601633.SH) and Changan Automobile (000625.SZ) accounted for 14.97% and 11.63% of overseas revenue in the first half of 2022, respectively, while GAC Group (601238.SH) was lower at 2.88%.

  Ningde Times (300750.SZ) generated 22.254 billion yuan in revenue from overseas regions in the first half of last year, accounting for 19.7% of total revenue.

Since last year, "King Ning" has significantly accelerated its deployment in overseas markets.

On February 14, Ford announced that it will cooperate with Ningde Times to invest 3.5 billion US dollars in the construction of a power battery plant in Southwest Michigan, USA. Operate the service and license patented battery technology.

  Since last year, Ningde era has significantly accelerated its deployment in overseas markets.

In July, the company reached a global strategic cooperation with Ford Motor of the United States, planning to supply power batteries in China, North America, Europe and other places; in August, it announced that it will build its second battery factory in Europe in Hungary, with an investment of 7.34 billion euros In September, Ningde Times reached a cooperation agreement with FlexGen, an American energy storage technology platform and solution provider, promising to supply 10GWh of energy storage products in the next three years.

Intelligence may become the advantage of "going to sea"

  From 2021, the European region will occupy the largest share of my country's new energy vehicle exports.

The data shows that from 2018 to 2020, my country's new energy vehicle exports have increased year by year, and Asia is the largest export region.

In 2021, exports to Europe will increase significantly, with annual exports of 285,000 vehicles, and Asia will take a back seat at 244,100 vehicles.

  "Auto is a global industry. Domestic brands going overseas can not only gain more market opportunities, but also enhance their brand image and help build a global supply chain. Judging from the development pace of domestic new energy vehicle giants, building a global supply chain has become an irresistible trend. .” A new energy industry analyst told the first financial reporter.

  More importantly, the penetration rate of new energy vehicles in my country has reached a critical point, and the trend of slowing down the growth rate of penetration rate in the future may be unavoidable.

Data show that in September last year, the retail penetration rate of new energy vehicles broke through the 30% mark for the first time, reaching 31.8%. ).

  In January this year, affected by the Spring Festival holiday and the withdrawal of subsidies, domestic sales of new energy vehicles were sluggish.

According to the data, the domestic production and sales of new energy vehicles in January were 425,000 and 408,000, respectively, a year-on-year decrease of 6.9% and 6.3%, and a month-on-month decrease of 46.6% and 49.9% respectively; the penetration rate was 24.7%, an increase of 7.7% year-on-year. percentage points, down 7.2 percentage points from the previous month.

  The export data is more ideal.

In January, 83,000 new energy vehicles were exported, a year-on-year increase of 48.2% and a month-on-month increase of 1.1%, accounting for 27.6% of total exports.

  "From the perspective of market size alone, the penetration rate of new energy vehicles in other regions outside of China is far from entering a period of rapid growth." The aforementioned analyst said, "Intelligence is the advantage of domestic brands competing overseas. The battery life requirements of the product are basically similar to those of domestic brands, but the intelligence is significantly lower than that of domestic competing models in the same price range. In terms of the same price, the smart cockpit, entertainment, and personalized settings of domestic brands are far superior to other brands. In the future, with With domestic big brands further improving overseas supply chains and reducing manufacturing costs, it may form stronger competitiveness.”