Start time: 2019End time: 2021 Stage: Mature period industry events: fully integrated eDrive module industry impact: reducer and motor controller separate design and reassembly ideas, directly integrated design
The upstream of China's electric drive powertrain industry chain is a supplier of parts, the value is large, the motor controller research and development is difficult, China's new energy vehicles are mainly equipped with permanent magnet synchronous motors, the value of the motor accounts for 40% of the powertrain, but due to the mature motor technology, so its gross profit margin is low, only 10%. The motor controller is the core component of the electric drive power assembly, and the development is difficult, the value accounts for 10% of the electric drive force assembly, of which the main component 1GBT localization rate is low, the technical threshold is high, of which Infineon accounts for nearly 50% of the market share. The reducer is a pure mechanical component, accounting for 40% of the value of the electric drive assembly, which is mainly composed of steel and aluminum, due to its lower technical door, more competitors, low gross margin, coupled with the rise in raw material prices, the gross profit margin is further reduced, and the value of the bicycle is 1.800 yuan; Midstream is an integrator, the bargaining power is weak, compared with the international electric drive power assembly, there is still a gap in the performance of China's electric drive power assembly, but the gap is gradually narrowing, some Chinese independent brands have been supplied for international electric drive power assembly brands, and are gradually recognized by international enterprises; After the recovery of the epidemic, pent-up demand was released, and China's automobile sales grew rapidly, and new energy vehicle sales in 2020 broke through a new high, increasing to 1.365 million units, a year-on-year increase of 13.5%. Since 2018, pure electric vehicle sales have accounted for more than 80% of the overall new energy vehicle sales, making it the largest category of new energy vehicle sales. Sales of pure electric vehicles are mainly composed of A-class and below. In 2020, 67% of A-class and below sales of pure electric models and 30% of B-segment models will be sold. Affected by policy subsidies and the increase in A-class sales driven by online car hailing, the proportion of A-class vehicles will gradually expand in the future
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