The Chinese new energy vehicle sector has reached another significant milestone in its history. On November 14th, under the guidance of the Ministry of Industry and Information Technology (MIIT), the 2024 China New Energy Vehicle 10 Million Vehicles Achievement Event was held in Wuhan, sponsored by China Association of Automobile Manufacturers (CAAM), and hosted by Dongfeng Motor Corporation (hereinafter referred to as Dongfeng Motor). To celebrate this historic moment, leaders from national authorities, Hubei Province and Wuhan Municipal Government, representatives of industry organizations and new energy automobile enterprises gathered to witness the new achievements of China's automobile industry and pay a tribute to every striver in China's automobile industry.

From the "follower" ranks steadily stepped into the "leader" front, China's new energy automobile industry has been rising steadily and powerfully over the past decade. Reflecting in 2014, General Secretary Xi Jinping made significant instructions on “three transformations” and emphasized that “Developing new energy vehicles is essential for China to evolve from an automobile power to an automobile powerhouse.”, which pointed out the direction, planned the path, and strengthened the confidence for China's automotive industry to “changing lanes to overtake”. Over the past ten years, under the visionary and scientific guidance of General Secretary Xi Jinping, China's automobile industry has overcome difficulties, strived for innovation, flung into the wave of automobile industry change with a sense of urgency that can't be waited for. "It has acquired real skills in open competition", becoming an important force in reshaping the competitive landscape and technological advantages and promoting the global automobile industry's transformation, upgrading and green development.

 

01 China's new energy vehicles usher in a significant milestone, realizing the transformation from Chinese speed to Chinese quality

 

From nothing to inception, from inception to excellence, China's new energy vehicles have traveled an extraordinary path of greatness. It took 27 years to produce the first new energy vehicle and reach the milestone of 10 million units. From the 10 million units to break through 20 million units, it took only 17 months. The dynamic figures show the amazing "Chinese speed". Today, China's new energy vehicles have accelerated again, achieving a remarkable milestone of over 10 million units within just 11 months. Over the past decade, China's new energy vehicle production and sales ranked first in the world for nine consecutive years. The journey of China's NEVs has evolved from initial development to rapid growth, ultimately achieving a significant leap forward on the international stage, marking a transformative development and establishing China as a frontrunner of global new energy vehicles.

 

Automobile is regarded as “the focus of modern industry”, which is the epitome of modern industrial technology and one of the most important symbols of national manufacturing strength. The development of new energy vehicles is essential for China's transition from being a large automobile producer to becoming an automotive powerhouse. The new milestone of 10 million new energy vehicles in China by 2024 declares that China's automobile industry marks a significant step in the high-quality development of China's automotive industry, presenting a new image of  “China's Smart Manufacturing” to the world. It marks that China's new energy vehicles are on the basis of industrialization and marketization and are moving towards the development of high-quality and globalization. China's automobile industry has achieved the transformation from “Chinese speed” to “Chinese quality”.

 

Xin Guobin, a member of the Party Group and Vice Minister of the Ministry of Industry and Information Technology said in his speech that 2024 China's new energy vehicle production and sales exceeded 10 million is an important moment of historical significance. It is the fruit of the joint efforts of Chinese auto brands. At present, the world are accelerating evolution, a new round of scientific and technological revolution and industrial change is booming, the global automobile industry's technology, products, mode, ecology are undergoing drastic and profound changes. It is necessary to solve problems and share development results through deeper innovation and broader cooperation. To promote the high-quality development of new energy automobile industry, it is necessary to adhere to the green low-carbon, transformation and upgrading, innovation-driven, open cooperation, brand-upward, and long-term efforts.

 

Cheng Yongwen, vice governor of Hubei Provincial People's Government, said in his speech that in 2023, Hubei's automobile manufacturing and service industry, mainly new energy and intelligent connected vehicle industry-based revenue reached 852 billion yuan, and the annual scale of the automobile industry is expected to reach a trillion level in 2024, the new energy vehicles production capacity expected to increase to 1.5 million units, and more than 300 enterprises related to intelligent networked automobiles has been clustered. Hubei Province is focusing on establishing a world-class trillion automobile industry cluster, accelerating the implementation of five major actions, with the high-quality development of new energy and intelligent networked automobile industry serving as an important support.

 

02 Strategic guidance + policy support + technological innovation + struggle and progress, jointly realize the transformation from “Made in China” to “Created in China”

 

 

Work together to scale new heights. In 2024, China's new energy vehicles reached 10 million units, becoming a vivid example of China's rapid development of the automobile industry. It also paved the way for the transformation and upgrading of China's automobile industry, marking a new trajectory for high-quality development.

 

What is the rapid rise of China's new energy vehicle industry leaning on? First, it relies on the strategic guidance of the CPC Central Committee and the policy leadership of the relevant state departments, a series of support initiatives that make the direction of industrial development clearer and the pace more determined. Second, by the transformation of market advantages into industrial advantages, with China's accelerated construction of charging infrastructure, the market vitality and consumer potential constantly to be released. The shift from the financial subsidy policy for new energy vehicles to the rural development has fully mobilized consumer support, igniting industry transformation enthusiasm. Thirdly, it relies on the independent innovation of science and technology and the continuous improvement of the industrial chain. After years of cultivation, China has a relatively complete industrial system and technological advantages in the field of new energy vehicles, creating a comprehensive new energy vehicle industry chain system. Hundreds of new enterprises have emerged to create a wealth of new energy vehicle products. Fourthly, it relies on the efforts of generations of Chinese automobile practitioner. In the face of unprecedented challenges and opportunities, every Chinese automobile enterprise is using its own practical actions to jointly promote the prosperous development of China's new energy automobile industry.

 

At the same time, under the guidance of the innovation-driven development strategy, Chinese automobile enterprises have continuously to break through the core technology, and strive to solve the "stranglehold" problem. They have made significant innovations in various fields of new energy automobile technology, effectively filling the technological gaps in China's automobile industry. For example, as one of the mega central enterprises under the direct control of the central state, Dongfeng Motor keep in step with the times, adheres to independent innovation, and unswervingly pushes forward the transformation to new energy. It has planned the new blueprint of “three leaps, one to the new”, and constructed the “1+n” R&D system. For two consecutive years, the company has taken the lead in the industry in terms of new invention patents, with the number of effective patents exceeding 24,000. It has independently mastered core technologies such as the "Loong-gine" for commercial vehicles and the "Mach power” for passenger vehicles, the Quantum Architecture, the Dongfeng Hydrogen Boat, and the Dongfeng "Joyful Intelligence".  From January to October this year, Dongfeng Motor sold 2.01 million vehicles, and 1.11 million vehicles of its own brand, an increase of 40.2% year-on-year; and 700,000 new energy vehicles, an increase of 82.3% year-on-year.

 

Yang Qing, Chairman and Secretary of the Party Committee of Dongfeng Motor, said in his speech that Dongfeng Motor continues to improve the layout of brands, platforms, products and core resources for independent new energy vehicles. The company is committed to promoting scientific and technological innovation, independently mastering the key core technologies, and concentrating on realizing the “new energy leap, intelligence leap, and internationalization leap”. He sincerely hopes to collaborate with all industry colleagues to build better cars for users, empower Chinese automobile brands, and make Chinese cars a global favorite.

 

Consolidate advantages and harness the momentum. Dongfeng Motor and all Chinese automobile enterprises are jointly sharing the major mission entrusted by the new era - to continue to forge ahead, innovate independently, catch up and surpass, work hand in hand to promote “China's automobiles, viewing themselves as the equals of any other in the world”. Under the leadership of this major mission, Chinese automakers compete on the one hand and stimulate each other on the other hand, gathering new momentum for the "new and upward". They gather the majestic power of the automobile industry, boost China's automobile industry to continue upward movement, and make the national automobile brand bigger and stronger.

 

03 Continuously polishing China's automobile business card, realizing the transformation of Chinese products to Chinese brands

 

New height, new starting point, new expedition. For China's automobile industry, the achievement of 10 million new energy vehicles in 2024 is not only an unprecedented breakthrough, but also a starting point for moving forward courageously. At the spot of the event, staff representatives of several automobile enterprises sang "Expedition of Dreams", which not only witnessed this historic moment together, but also signified that China's automobile industry sounding a clarion call of a new era.

 

On the spot, VOYAH COURAGE was honored to join hands with a number of national automobile brands to open a new chapter of the 2024 China's new energy vehicle goal of 10 million units. As a high-end intelligent new energy brand under Dongfeng Motor, VOYAH has formed a product layout of "three categories in three years and four vehicles in four years", with its sales volume has continued to rise, entering the club of 10,000 units sold per month. The fourth model "VOYAH COURAGE" is built based on Dongfeng independent innovation and professional and mature R&D system, and is positioned as " Premium Electric SUV". It is equipped with the 800V high-voltage silicon carbide platform, the longest range in its class, the fastest 5C charging speed in its class. With stronger technological innovation and user demand as the core, it brings users an unprecedented experience of high-end pure-electric SUVs and redefines the standard of 200,000-class pure-electric SUVs. VOYAH COURAGE not only demonstrates Dongfeng Motor's profound technological reserves and high-end brand charm, but will also enter the European market in the future, continue to polish Chinese automobile business card, and join hands with more Chinese automobile brands to "go global" and "aim high". As a mainstream technology electric brand under Dongfeng Motor, Dongfeng eπ is anchored in the mainstream market, and a number of new cars have been listed on the market. DONGFENG 008, which is tailor-made for family users, is positioned as a "Family Smart Large SUV". The DONGFENG 008 5-seater version has been opened for pre-sale, and unveiled at the Guangzhou Auto Show in 2024, bringing a brand-new traveling experience for family users.

 

 

From 2008, when BYD released the world's first plug-in hybrid model F3DM, to 2014 with the founding of NIO, from 2020’s release of SAIC’s IM Motor, to 2021’s launch of GEELY’s "ZEEKR" and Changan Automobile’s "AVATR", and from 2022’s unveiling of DONGFENG "MHERO", to 2024 's milestone of Li Auto Inc. producing its one millionth complete vehicle. China's new energy vehicles have not only realized a comprehensive breakthrough from “individual instances to widespread adoption” and “from quantity to quality”, but also risen in the integration, competed in the rise and matured through the competition.

 

Industry experts believe that the achievement of 10 million new energy vehicles in China by 2024 further consolidated China's position as the world's largest new energy vehicle producer, seller and exporter of new energy vehicles, strengthening the Chinese automotive industry's first-mover advantage in the new wave of the global technological revolution, and leading the global automotive industry towards electrification, intelligent transformation and upgrading as the main direction. As Fu Bingfeng, Executive Vice President and Secretary General of China Association of Automobile Manufacturers (CAAM), stated that the transformation and development of China's new energy vehicles is an unprecedented great practice and a massive project in which several generations of colleagues from the whole industry have participated. The industry's determination to forge ahead has contributed “Chinese power” and “Chinese solution” to the global automobile industry, laid a solid foundation for the second half of the development of intelligent networked vehicles, set up the confidence of victory, and pulled the global automobile industry firmly towards electrification.

 

In a boat race, those who row the hardest win. Among a thousand sails competing, those who advance most bravely will win. In the wave of global automobile electrification, and intelligent transformation, China’s new energy vehicles are rapidly approaching the center of the international stage, China's automobile industry not only ushered in a historic opportunity, but also bring new development opportunities to the global automobile industry. China's national automobile is accelerating to a new leap, unswervingly walking on the "road of necessity", and with a more open and confident attitude, riding on the momentum in the new journey and sailing in the new blue sea. It continues to show the vigorous vitality and innovative strength of Chinese modernization and inject more abundant "Chinese driving force" into the development of the global automobile industry. 

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