Advantages of electric logistics vehicles highlight the demand for upstream motor demand
In recent years, with the continuous expansion of e-commerce online shopping transactions, China's express business volume has grown rapidly, and it is expected to boost the demand for electric logistics express vehicles. Last year, the national express delivery business completed 20.6 billion pieces, a year-on-year increase of 48%, and the maximum daily processing capacity was about 160 million pieces. From the perspective of cost, logistics costs are mainly composed of transportation, management, and storage costs, of which transportation costs account for more than 50%. Electric logistics vehicles save at least 30% of the cost of conventional gasoline vehicles, which can significantly reduce logistics and transportation costs.
Electric logistics vehicles are mainly used to undertake logistics business, not limited to trucks, and some passenger vehicles and a small number of passenger vehicles can also be used as logistics vehicles. At present, road logistics can be divided into two categories: provincial and intercity long distance transportation and urban close distance transportation. The data shows that the output of pure electric vehicles in China last year was 47,800, most of which were logistics vehicles, and a small part were sanitation vehicles. The agency expects that by 2020, China's electric logistics vehicle market will reach 400,000 units, and the compound annual growth rate will exceed 50%, which is expected to become a new growth point for new energy vehicles.
In terms of policy, in August this year, the Ministry of Industry and Information Technology released the new vehicle product announcement information for the “Road Motor Vehicle Manufacturing Enterprise and Product Announcement” (No. 287), and a total of 236 new energy vehicles were selected. Among them, 190 models of pure electric vehicles. In addition, last year, the National Development and Reform Commission and other four ministries and commissions jointly issued the "Notice on the Financial Support Policy for the Promotion and Application of New Energy Vehicles in 2016-2020", proposing to improve the operation policy of new energy city logistics distribution vehicles, and impose restrictions on new energy logistics vehicles. The policy does not implement total control on the operation rights indicators of logistics and distribution vehicles in new energy cities, and encourages the implementation of new energy city logistics distribution vehicles for vehicle rental. With the support of many aspects of the policy, China's electric logistics vehicles will usher in opportunities for expansion.
The core components of electric vehicles are mainly divided into motors, electric controls and batteries. Among them, the cost of batteries accounts for about 45% of the total cost, and the motor and electronic control systems account for about 15%. The motor is an important part of the new energy vehicle. The electric drive is the device that controls the start and operation of the motor. The combination of the two is the core component of the new energy vehicle powertrain. As the output of electric logistics vehicles continues to grow, the market size of motor electronic control will also increase rapidly. The agency expects that the motor electric control market of China's electric logistics vehicles will reach 3.4 billion yuan this year. By 2020, the market size is expected to reach 13.5 billion yuan, and the compound annual growth rate will exceed 50%.
At present, most of the motor electronic control market is dominated by domestic manufacturers, and foreign manufacturers are relatively weak. The domestic motor enterprises are mainly divided into manufacturers with experience in vehicle preparation, manufacturers established for the production of electric motors for new energy vehicles, and motor manufacturers for the development of new energy vehicles with experience in motor production. With the continuous growth of new energy vehicle production and sales, motor electronic control companies are expected to usher in good opportunities for development.