MARKET NEWS

With Many Users, Two-wheeled Electric Vehicles Will Develop to High Quality, Intelligent and Personalized in the Future

The electric two-wheeled vehicle is a two-wheeled vehicle with an onboard battery as an auxiliary energy source, which can realize the function of electric assist or electric drive. Before the implementation of the new national standard, electric bicycles usually refer to as electric two-wheelers, but the new national standard on electric two-wheelers for a clear classification, according to different indicators into electric bicycles, electric mopeds and electric motorcycles.

In 2021, the output of lithium electric two-wheelers reached 13.17 million units with an overall penetration rate of 24.2%, driving the shipment of lithium-ion batteries for electric two-wheelers to 13.1GWh, a year-on-year increase of 21.7%. The reasons why the output growth of China\'s electric two-wheelers in 2021 is less than expected include: In 2021, the delivery of shared electric two-wheelers began to meet policy resistance and began to tighten, and operators such as Meituan and Didi slowed down or even stopped the delivery of shared electric vehicles; The implementation of the new national standard policy is slow in some parts of the country, and most cities delay the implementation for 1-2 years, resulting in a slowdown in the replacement of non-national standard cars; In 2021, the price of raw materials for lithium-ion batteries rose sharply, causing lithium batteries to lose their competitive advantage, so some automakers then chose lead-acid batteries with cheaper prices.

Sources: EVTank, Market Monitor Co., Limited

Sales of electric two-wheelers have grown rapidly in major economies over the past five years, driven by policies to reduce emissions and advances in electric motor and battery technology. In terms of the domestic market, China is one of the most attractive electric two-wheeler markets in the world. From 2017 to 2021, the total sales volume of electric two-wheelers in China increased from 30.5 million to 49.8 million, with a compound annual growth rate of 13.04% during the period. In 2021, China\'s electric two-wheeler market accounted for 75.9 percent of the global total, and the share is expected to increase further in the future. In the future, the world\'s major economies will put forward more stringent emission reduction policies to promote the widespread popularity of green travel and improve the replacement rate of traditional motorcycles, and the sales of electric two-wheelers will increase.

Sources: EVTank, Market Monitor Co., Limited

In terms of sales volume of two-wheeled electric vehicles in 2021, Yadea, Emma and TAILG still rank the top three, while JINJIAN, XDAO, Niu and ZHEJIANG ZUBOO ELECTRIC BICYCLE CO., LTD. rank significantly higher and enter the top ten. In 2021, the sales volume of the top 10 brands reached 37.68 million, accounting for 91.9% of the total sales volume; The top five brands sold 31.3 million vehicles, accounting for 76.3 percent of the total. Far more than 58% and 44% in 2018, the market concentration has increased significantly.

Source: Market Monitor Co., Limited

Driven by the background of "high-quality development" and the promotion of consumption upgrading demand, two-wheeled electric vehicles develop to high-quality, intelligent and personalized development, such as the use of more independent brand design in appearance design, the use of lightweight materials, better performance sensors, intelligent hardware, research and development of different models.

In terms of quality, with the upgrade of battery technology, the battery energy density can be improved or the battery cost per unit energy can be reduced, so that the two-wheeled electric vehicle can carry the battery with a higher power. With the improvement of motor technology, the battery energy conversion rate can be improved, so as to improve endurance; In addition, the integrated body design and the use of lightweight materials leave the battery with more weight space, obtain higher battery capacity, and also enable the two-wheeled electric vehicle to have higher endurance.