Artificial Intelligence
All parties compete for 50 million large-scale market electric vehicle industry
In Wuxi, a major hub for electric vehicle manufacturing in China, around 60% of local manufacturers are operating at a loss, and over 100 have already shut down. This was revealed by a senior member of the Jiangsu Bicycle Association to *China Business News*. The industry is facing a dual challenge: one related to scale and another linked to outdated standards that haven’t kept up with market demands. The debate over defining new regulations has created uncertainty, making it difficult for public companies to plan and grow.
The situation is particularly complex due to the lack of clarity in industry standards. With more than 90% of the global electric vehicle market accounted for by Chinese production, the landscape is rapidly shifting. Among the 1,800 electric vehicle companies in the country, one-third are either closing or restructuring, while 60% are losing money. Despite this turmoil, the long-term outlook remains optimistic. It’s predicted that by 2015, the national demand for electric vehicles could reach 50 million units, attracting both domestic and foreign investors.
Some established manufacturers are now investing heavily to consolidate their positions, aiming for expansion and even listing on the stock exchange. Companies like Xinri Group are pushing forward with ambitious growth plans, including setting up new industrial parks and increasing production capacity. Meanwhile, international players such as Japan’s Suzuki are also showing interest in entering the Chinese market through joint ventures or partnerships.
A key issue driving the current instability is the outdated standard for electric bicycles, which limits speed to under 20 km/h and weight to no more than 40 kg. These rules, set in 1999, no longer align with consumer preferences, which favor faster and heavier models. In contrast, European and U.S. standards allow higher speeds, creating a gap between what is allowed and what consumers want.
To address this, the National Development and Reform Commission is working on a new classification system that would divide electric vehicles into three categories: traditional electric bicycles, light electric motorcycles, and full electric motorcycles. This reclassification could significantly impact the industry, as many manufacturers may not meet the new criteria and could be forced out of the market.
Despite the challenges, some industry insiders remain hopeful. They believe that once the new standards are finalized, the market will become more regulated and competitive, ultimately benefiting larger, more established companies. As the industry continues to evolve, the path forward is clear—only those who adapt and innovate will survive and thrive.
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