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China Low-speed Electric Vehicle (LSEV) Industry Report, 2020-2026

Published: December 2020

No. of Pages: 220

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Low speed electric vehicle (LSEV) is passenger or freight electric vehicle driven by motor and taking lead-acid cell or lithium battery as driving power, with max speed of less than 70km/h. In a broad sense, LSEV includes electric bicycle (electric motorcycle), electric tricycle, all-terrain vehicle and low speed electric vehicle.

Electric bicycle

Characterized by low carbon and environmental protection, flexibility, and high performance cost ratio, electric bicycle is widely favored by people from middle and small cities, as well as rural areas. However. the electric bicycle market presented downturn due to unclear standard in the last two years. And then, the market recovers with the release of new standard, i.e. the compulsory national standard of Safety Technical Specification for Electric Bicycle (GB17761-2018), which has been formally implemented since April 15, 2019. According to National Bureau of Statistics, output of electric bicycle in China in 2019 hit 27.08 million units, up 6.1% yr-on-yr. The figure amounted to 25.48 million units from Jan 2020 to Oct. 2020, up 33.36% yr-on-yr. The figure is expected to be 30.58 million units by 2020. The market will further expand with the popularization of shared electric bikes.

As for industry competition, the electric bicycle industry faces new round of reshuffle since the release of new national standard on electric bicycle in 2019. One the one hand, it is difficult to adapt to new national standard for over-standard manufacturers’ core indices such as technology, quality, and safety performance. Suppressed by policy, these enterprises will be squeezed by market share and even be obsoleted. On the other hand, benefiting from the new policy, industry leading brands represented by Yadea obtain new market growth space due to its advantages in technology, quality, capacity and capital.

According to annual production scale and technology ability, existing enterprises are classified into three echelons. In the future, market occupancy of enterprises from the first and second echelons will continuously grow (enterprises from the first echelon present faster growth speed), while enterprises from the third echelon will be gradually obsoleted.

Electric tricycle

As of now, China has not made any regulations on electric tricycle yet, expect for Technical Requirement on Electric Tricycle for Delivery (Exposure Draft) released by State Post Bureau in Apr. 2016. Electric tricycle for delivery occupies large share in tricycle industry, showing great reference significance in the industry.

Boosted by fastened urbanization progress, demand on electric tricycle from second-tier and third-tier cities surged. Output of electric tricycle in 2015 approximated 12.67 million units in 2015, presenting market stagflation. From 2016 to 2019, production and sales volume of electric tricycle in China continuously declined affected by factors of environmental protection, price increase and local control, output of electric tricycle decreased to 9.82 million units. The declining trend will continue, but the market demand will not disappear soon due to price advantage.

China starts late in electric tricycle industry. Stimulated by fast industry development, number of electric tricycle enterprises surged in recent years. At present, China has over 500 electric tricycle brand enterprises. Large-scale enterprises include Huaihai, Jinpeng, Haibao, Bird, and Besway.

Four-wheeled low speed electric vehicle

The four-wheeled low speed electric vehicles are not built based on the prototype of traditional sedan, but developed from the prototype of golf cart. Without standard on this kind of vehicle in China, Chinese manufacturers mainly design the vehicle by referring EU and Japanese standards, namely, satisfying the requirements of small size, light weight, and low max speed.

There is no standard on four-wheeled low speed electric vehicle. In Mar. 2019, Technology Department of MIIT published nine compulsory national standard plan programs including Technical Condition of Four-wheeled Low Speed Electric Vehicle applying for project initiation. Related standard is forecasted to be released in 2021.

Since 2010, the four-wheeled low speed electric vehicle market experienced wild development due to the demand from fourth-tier and fifth-tier cities and rural areas, and the output peaked at 1.34 million units in 2018, but dropped to 1.27 million units in 2019 affected by policy adjustment from the state and main producing districts like Shandong.

The market was expected to rebound with the establishment of national low speed electric vehicle standard in 2021. However, it will continue to decline due to the impact of A00 class electric vehicles such as Wuling Hongguang MINI EV, and the transformation of many low-speed electric vehicle vendors.

On Jul. 24, 2020, Wuling Hongguang launched new A00 class new energy Hongguang MINI EV at Chengdu Auto Show. The MINI EV features 120 km to 170 km of driving mileage and 100km/h of max speed, with selling price of merely RMB 28,800 to RMB 38,800. Sales volume of the MINI EV in Jul. 2020 amounted to 7,348 units, and further to 15,000 units in Aug. 2020, making it become the first MINI EV with sales volume exceeding 10,000 units worldwide. The MINI EV will give critical strike to four-wheeled low speed electric vehicle market.

Viewed from market competition, large-scale enterprises include Hebei Yujie, BYVIN, Shandong Shifeng, Tangjun Ouling, Weifang Ruichi, Hantour, Lichi, and Baoya, which are primarily distributed in Shandong, Hebei and Jiangsu. Meanwhile, many vendors are adjusting their strategies based on market change and policy requirement, looking forward to manufacturing A00 class or above electric vehicles via qualification enhancement.

China Low Speed Electric Vehicle Industry Report, 2020-2026 highlights:

China low speed electric vehicle industry (definition, classification, and development trend);
China low speed electric vehicle subdivision market (industry standard, related policy, market scale, competition pattern and development trend of electric bicycle, electric tricycle, low speed electric vehicle and field vehicle);
Related parts market (competition pattern and vendor comparison of battery, motor, motor controller, and BMS markets);
18 major vendors including Yadea, AIMA, Sunra, BYVIN, Jinpeng, Jiangsu Daojue, Hebei Yujie, Shandong Shifeng, Tangjun Ouling, Fulu Vehicle Industry, Letin, Hantour, Lichi, Weifang Ruichi, Shandong Deruibo and Baoya (profile, revenue, major product, R&D, manufacturing base and technology feature)

Table of Contents

1. Overview of LSEV Industry
1.1 Definition and Classification of LSEV
1.2 Industry Characteristics
1.2.1 Intense Competition
1.2.2 Geographical Concentration

2. Development of Two-wheeled Electric Vehicle Industry
2.1 Standard of Two-wheeled Electric Vehicle
2.1.1 Standard of Electric Bicycle
2.2 Policies
2.3 Market Size
2.4 Regional Pattern
2.5 Competitive Landscape
2.6 Industry Forecast

3. Development of Three-wheeled Electric Vehicle Industry
3.1 Standard of Three-wheeled Electric Vehicle
3.2 Market Size
3.3 Development in Major Regions
3.4 Competitive Landscape
3.5 Industry Forecast

4. Development of LSEV Industry
4.1 Policies on Four-wheeled Electric Vehicle
4.1.1 National Policies and Standards
4.1.2 Local Policies
4.2 Market Size
4.3 Development in Major Regions
4.3.1 Shandong
4.3.2 Hebei
4.4 Competitive Landscape
4.5 Mini Electric Vehicle

5. Development of All-Terrain Vehicle Industry
5.1 Market Size
5.2 Regional Development
5.3 Markt Price
5.4 Competitive Landscape

6. Main Parts Market
6.1 Battery
6.1.1 Status Quo and Trends of LSEV Battery
6.1.2 Major Manufacturers and Competitive Landscape
6.1.3 Products of Major Manufacturers
6.1.4 Advantages and Disadvantages of Major Manufacturers
6.2 Motor
6.2.1 Major Manufacturers and Competitive Landscape
6.2.2 Products of Major Manufacturers
6.2.3 Advantages and Disadvantages of Major Manufacturers
6.3 Motor Controller
6.3.1 Major Manufacturers and Competitive Landscape
6.3.2 Products of Major Manufacturers
6.3.3 Advantages and Disadvantages of Major Manufacturers
6.4 BMS
6.4.1 Technical Analysis
6.4.2 Market Analysis

7. Chinese LSEV Manufacturers
7.1 AIMA
7.1.1 Profile
7.1.2 Operation
7.1.3 Production
7.1.4 Major Products
7.1.5 Distributors and Customers
7.1.6 Production Bases
7.1.7 Sales Network
7.2 Yadea
7.2.1 Profile
7.2.2 Operation
7.2.3 Revenue Structure
7.2.4 Marketing Network
7.2.5 Production Bases
7.2.6 Dynamics
7.3 BYVIN
7.3.1 Profile
7.3.2 Electric Bicycle
7.3.3 Electric Tricycle
7.3.4 LSEV
7.3.5 Production Bases
7.3.6 Intelligent Electric SU—BYVIN V7
7.4 SUNRA
7.4.1 Profile
7.4.2 Operation
7.4.3 Revenue Structure
7.4.4 Production and Marketing
7.4.5 Two-wheeled Electric Vehicle
7.4.6 Electric Tricycle
7.4.7 Electric All-terrain Vehicle
7.4.8 Marketing Network
7.4.9 Production Bases
7.4.10 Investment Projects by IPO
7.4.11 Xinri’s Partnerships with China Tower, Meituan, and AngNa Technology
7.5 Zhejiang Luyuan
7.5.1 Profile
7.5.2 Main Products
7.5.3 Main Production Bases
7.5.4 Strategic Planning
7.6 TAILG
7.6.1 Profile
7.6.2 Main Products
7.6.3 Main Production Bases
7.6.4 TAILG Joined the 2019 ""UN Environment's Electric Mobility Program""
7.6.5 Strategic Planning
7.7 Jinpeng
7.7.1 Profile
7.7.2 Major Products
7.7.3 Main Production Bases, and Production and Sales
7.7.4 Full-series Lithium Battery Products were Launched
7.7.5 Jinpeng Reached Strategic Cooperation with Haier
7.7.6 Jiangsu Jemmell New Energy Vehicle Co., Ltd.
7.8 YOGOMO
7.8.1 Profile
7.8.2 Output and Sales Volume
7.8.3 Independent Operation of YOGOMO Brand
7.8.4 Major Products
7.8.5 Main Production Bases
7.8.6 YOGOMO Renamed as LinkTour
7.9 Shifeng Group
7.9.1 Profile
7.9.2 Operation
7.9.3 Production
7.9.4 Shifeng Central Research Institute
7.9.5 Strategic Planning
7.10 T-King Ouling
7.10.1 Profile
7.10.2 Major Products
7.10.3 T-King’s Strategic Cooperation with Camel Group
7.10.4 T-King’s Strategic Cooperation with Zibo Torch Energy
7.11 Fulu Vehicle
7.11.1 Profile
7.11.2 Major Products
7.11.3 Fulu Vehicle Invested RMB 160 mln to Establish Test Center
7.11.4 Fulu Vehicle Opened Li-ion Battery Era
7.11.5 Fulu Vehicle Joined Hands with BAW to Produce Beijing Branded NEVs Jointly
7.11.6 Strategic Adjustment
7.12 Dojo
7.12.1 Profile
7.12.2 Major Products
7.12.3 Production Bases and Capacity
7.12.4 Dojo’s Gaoyou Base Was Officially Put into Operation
7.12.5 Strategic Planning
7.13 LEVDEO
7.13.1 Profile
7.13.2 Major Products
7.13.3 Production Base
7.13.4 Important Technology
7.14 Lichi
7.14.1 Profile
7.14.2 Revenue
7.14.3 Major Products
7.14.4 Development Strategy
7.15 Rainchst
7.15.1 Profile
7.15.2 Major Products
7.15.3 Production Bases
7.15.4 Rainchst Signed a OEM Agreement with Italy’s XEV
7.16 Hebei Yudea New Energy Technology Group Co., Ltd.
7.16.1 Profile
7.16.2 Major Products
7.16.3 Production Base
7.16.4 Main Qualifications
7.16.5 Yudea’s 200,000 NEVs/a Project Makes Its Home in Neijiang, Sichuan
7.16.6 Shaanxi Yudea New Energy Vehicle Co., Ltd. Teamed up with Xuzhou XCMG Automobile Manufacturing Co., Ltd.
7.17 DURABLEV
7.17.1 Profile
7.17.2 Major Products
7.17.3 Main Qualifications
7.18 Han Tang Electric Vehicle
7.18.1 Profile
7.18.2 Major Products
7.18.3 Development Strategy

8. LSEV BMS Manufacturers
8.1 Shenzhen Tian-Power Technology Co., Ltd.
8.1.1 Profile
8.1.2 Major Products
8.2 Addenda Technology (Guangzhou) Co., Ltd.
8.2.1 Profile
8.2.2 Major Products
8.3 Shenzhen Guoxin Power Technology Co., Ltd.
8.3.1 Profile
8.3.2 Major Products
8.3.3 Partners
8.4 Jiangxi Keran Technology Co., Ltd.
8.4.1 Profile
8.4.2 Major Products
8.5 Hangzhou Gold Electronic Equipment INC., Ltd.
8.5.1 Profile
8.5.2 Major Products
8.6 Changsha Juli Electric Technology Co., Ltd.
8.6.1 Profile
8.6.2 Major Products
8.7 Xi’an Jindee Electrical Technology Co., Ltd.
8.7.1 Profile
8.7.2 Major Products

List of Charts

Main Classifications of LSEVs
Main Types of Tricycles on the Market
Economic Benefits Comparison between LSEV and Other Types of Vehicles
Main Applications of LSEV
Comparison between Main Technical Specifications for Electric Bicycles (GB17761-1999 VS GB17761-2018)
Policies on Electric Bicycle in China in Recent Years
Electric Bicycle Forbidding Policies Promulgated by Some Cities in China
Laws and Regulations for Electric Motorcycle Industry Issued in Recent Years
Output of Electric Bicycles in China, 2016-2026E
Ownership of Electric Bicycles in China, 2016-2026E
Competitive Pattern of Main Enterprises in Electric Bicycle Industry
Market Structure of Electric Bicycles (by Battery Type) in China, 2013-2019
Key Reference Indicators in Technical Requirements on Electric Tricycle for Express Delivery
China’s Electric Tricycle Output, 2016-2026E
China’s Electric Tricycle Output by Market Segment, 2019
China’s Electric Tricycle Ownership, 2016-2026E
Major Electric Tricycle Production Bases and Sales Regions in China
Competitive Pattern of Electric Tricycle Industry in China, 2019
Partial Contents of Three Meetings of Work Team for Low Speed Electric Vehicle Standard Formulation, 2016
Contents of Technical Specifications for Four-wheeled Low-speed Electric Vehicle Circulated Online
Distribution of Main Regions Issuing Local LSEV Policies
Interpretation of Local Policies and Regulations on LSEV in Recent Years
Regulations of Shandong Province on Administration of LSEV (Trial) (Part)
Overview of Regulations on Administration of LSEV in Some Cities in Shandong
Provisions on Relevant Technical Indicators in Regulations on Administration of LSEV in Xingtai City (Trial)
China’s Low-speed Electric Vehicle Output, 2016-2026E
China’s Low-speed Electric Vehicle Ownership, 2016-2026E
Geographical Distribution of China LSEV Industry
Shandong’s Low-speed Electric Vehicle Output, 2016-2026E
National Share of Shandong’s Low-speed Electric Vehicle Output, 2019
Major LSEV Manufacturers in China
Ranking of Major Chinese LSEV Manufacturers by Sales Volume, 2019
Subsidies for New Energy Passenger Vehicles by Type, 2020
Main Technical Indicators of Some Best-selling Minicars
Main Approaches of LSEV Manufacturers to Obtain Electric Vehicle Production Qualification
Specifications of Wuling Hongguang MINI EV
ATV (All-Terrain Vehicle) Output in China, 2016-2026E
ATV Sales Volume in China, 2016-2026E
Export Volume of All-Terrain Golf Cart in China, 2013-2020
ATV Sales Structure by Region in China, 2019
Comparison of ATV Prices between China and Overseas Countries
Most-Applied ATVs in China
ATV Manufacturers in North America
Ranking of Sightseeing Vehicle Manufacturers in China by Sales Volume, 2018-2019
Sales Volume of Forklift in China by Market Segment, 2015-2019
Performance Comparison of EV Batteries
Comparison between Typical Lead-acid and Lithium Battery Vehicles
Major Battery Supplier’s Share in Two-wheeled and Three-wheeled Electric Vehicle Market, 2019
Major Battery Suppliers’ Share in Low-speed Electric Vehicle Market, 2019
Chaowei Power’s Main Batteries for LSEV
Tianneng Power’s Main Batteries for LSEV
Sacred Sun’s Sealed Lead-acid Batteries for Electric On-road Vehicle
Comparison between Chaowei Power and Tianneng Power
Comparison of Economical Efficiency between LSEVs
Capacity of Major Motor Manufacturers in Two-wheeled and Three-wheeled Electric Vehicle Industries in China
Motor Supply Relationship for LSEV in China
Shandong Xindayang’s Main Motors for Two-wheeled and Three-wheeled Electric Vehicles
Ananda’s Main Motors
Boyu’s Main Motors of LSEV
Yucheng Futong Motor’s Main Motors
Shandong Depuda Electric Motor’s Main Products
Motor Controller Scheme for LSEV
Capacity of Major Manufacturers of Motor Controller for Electric Bicycle in China
Capacity of Major Manufacturers of Motor Controller for Electric Vehicle in China
Deyang Electronic Technology’s Main Motor Controllers
Ananda’s Main Controllers
Wuxi Jinghui Electronics’ Main EV Controllers
Tianneng Power’s Main Motor Controllers
Shanghai Edrive’s Motor Control Systems for LSEV
Tianjin Santroll Electric Automobile Technology’s Main Motor Controllers for LSEV
V&T’s Main EV Controllers
LSEV Motor Controller Products of Zhuhai Enpower Electric
Major LSEV BMS Suppliers in China
Equity Structure (Top 10 Shareholders) of AIMA
Subsidiaries under AIMA
Revenue and Net Income of AIMA, 2015-2019
Revenue Structure of AIMA by Product, 2016-2019
Operating Revenue Structure of AIMA by Region, 2016-2019
AIMA’s Electric Vehicle Output, Sales and Capacity, 2010-2019
Performance Parameters of MINE and Snow Leopard, AIMA’s Two Featured Brands
AIMA’s Main Electric Vehicles and Their Performance
AIMA’s Revenue from Top 5 Distributers, 2018-2019
AIMA’s Revenue from Top 5 Clients, 2016-2019
Capacity of AIMA’s Main Production Bases and Investment
EV Distribution Network of AIMA
Number of AIMA’s Distributers, 2016-2019
AIMA’s Revenue from Electric Bicycles (in Guangzhou, Dongguan & Zhuhai), 2016-2019
Revenue and Net Income of Yadea, 2013-2020
Yadea’s Revenue by Product, 2013-2020
Yadea’s Revenue Structure by Product, 2018-2019
Yadea’s Sales Volume of Major Products, 2013-2020
Distribution of Yadea’s Distributors Nationwide
Profile of Yadea’s Wuxi Headquarters
Profile of Yadea’s Zhejiang Base
BYVIN’s Main Two-Wheeled Electric Vehicles
Specifications of BYVIN’s Main Electric Bicycles
BYVIN’s Main Three-wheeled Electric Vehicles
Main Parameters of BYVIN Spring Breeze Electric Tricycles
Main Parameters of BYVIN M8 Electric Vehicle
Main Parameters of BYVIN M7 Electric Vehicle
Main Parameters of BYVIN M6 Electric Vehicle
Major New Energy Power Technologies of BYVIN
Main Two-wheeled Electric Vehicle Products Bases of BYVIN
Distribution of BYVIN’s Production Bases
BYVIN’s Electric Vehicle Production Bases and Capacity Expansion Plans
Key Performance Indicators of BYVIN V7
Xinri’s Revenue and Net Income, 2014-2020
Xinri’s Revenue by Product, 2014-2019
Xinri’s Revenue by Region, 2014-2019
Xinri’s Electric Bicycle Capacity, Output and Sales Volume, 2014-2019
SUNRA’s Major Two-wheeled Electric Vehicles
Environmental Effect Assessment of SUNRA’s Electric Bicycle Projects
SUNRA’s Major Three-wheeled Electric Vehicles
SUNRA’s Major AVTs
Distribution of Xinri’s Dealers
Basic Information of Tianjin Xinri
Basic Information of Hubei Xinri (e.g., Revenue)
Basic Information of Guangdong Xinri
Overview of Zhejiang Luyuan Electric Vehicle
Major Three-wheeled Electric Vehicles of Zhejiang Luyuan Electric Vehicle
Specifications of Luyuan FBA2
Specifications of Luyuan MH5
Distribution of Main Production Bases of Zhejiang Luyuan Electric Vehicle
Overview of TAILG Group
Main Products of TAILG Group
Specifications of Lion Electric Vehicle Made in Wuxi Base
Specifications of Lion Electric Vehicle Made in Dongguan Base
Distribution of Main Production Bases of TAILG Group
Jinpeng’s Main Electric Vehicles
Capacity of Some Production Bases of Jinpeng
YOGOMO’s Sales Volume of LSEV, 2011-2019
Three Electric Vehicle Brands and Market Segmentation of YOGOMO
Specifications of YOGOMO 330
Specifications of YOGOMO Q EV
Specifications of YOGOMO A260 EV
Specifications of YOGOMO S325 EV
Specifications of YOGOMO X260 EV
Specifications of YOGOMO X6320 Cargo Van
Specifications of YOGOMO M6320
YOGOMO’s Main Production Bases and Products
Capacity and Products of YOGOMO's Main Production Bases
Marketing Network of Shifeng Group
Operating Revenue and Profits & Taxes of Shifeng Group, 2010-2019
Vehicle and Electric Vehicle Output of Shifeng Group, 2010-2019
Distribution of T-King’s Dealers
Specifications of T-King Ouling T1 EV
Specifications of T-King Ouling A6 EV
Specifications of T-King Tianshi EV
Specifications of Fulu Letu
Specifications of Fulu Lechi
Specifications of Fulu Meike
Specifications of Fulu FLE360-F
Specifications of Fulu Q7
Specifications of Dojo Pilot
Specifications of Dojo CooYes
Specifications of Dojo Dream Achiever
Parameters of Dojo Pioneer S
Main Production Bases of Dojo
Specifications of D80 LSEV
Specifications of D50 LSEV
Specifications of D70 LSEV
Specifications of LEVDEO V60 LSEV
Specifications of LEVDEO S50 LSEV
Specifications of LEVDEO LOTTO
LEVDEO i-Life Battery Management System Technology
LEVDEO i-Control Motor Control Technology
Revenue and Net Income of Lichi, 2014-2020
Mini (Low Speed) Electric Car Sales Volume of Lichi, 2014-2020
Parameter Comparison of Lichi’s Main Electric Vehicles
Main Parameters of Rainchst A00 EV
Main Parameters of Rainchst A0 EV
Main Parameters of Rainchst A EV
Main Parameters of Rainchst MMPV EV
Main Parameters of Rainchst Electric Mini-truck
Main Parameters of Rainchst Electric Sports Car
Main Parameters of Rainchst Sightseeing Electric Vehicle
Main Parameters of Revey
Main Technologies Adopted by Rainchst’s Production Bases
Main Technical Parameters of Xinyuzhou Yudea’s Electric Police Car
Main Technical Parameters of XinyuzhouYudea’s Sightseeing Electric Vehicle
Main Parameters of Yudea T80
Main Parameters of Yudea T60
Main Parameters of Yudea T70
Distribution of Main Production Bases of Yudea Group
Lithium Battery-powered Electric Vehicles of DURABLEV
History of Weifang Han Tang New Energy Vehicle Technology
Specifications of Han Tang A1
Specifications of Han Tang A3
Specifications of Han Tang A6
Specifications of Han Tang Q3
Specifications of Han Tang Lingka
R&D Teams of Shenzhen Tian-Power Technology
Tian-Power’s BMS Products
Main Technical Parameters of Tian-Power’s LSEV BMS Products
Addenda’s Integrated BMS Series
Addenda’s Distributed BMS Series
Guoxin Power’s Integrated BMS Series
Guoxin Power’s Distributed BMS Series
Guoxin Power’s Major Partners
BMS Products of Gold Electronic
BMS AIO Legend of Gold Electronic
Technical Parameters of Gold Electronic’s BMS AIO
Gold Electronic’s 10S BMS Module - EVBMM-1022
LSEV Lithium Battery Management System - EViBMM-2412/3212
BMS Products of Changsha Juli Electric Technology
Changsha Juli Electric Technology’s LSEV BMS Products
Battery Monitoring Modules and Systems of Xi’an Jindee Electrical Technology

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