Current status and prospects of China's commercial vehicle market

According to the data from the China Association of Automobile Manufacturers, China's commercial vehicle sales will reach 4.031 million units in 2023, of which new energy commercial vehicle sales will be 434,000 units, with a penetration rate of 11%. Due to the diverse product types, rich application scenarios and complex working conditions of new energy commercial vehicles, the demand for power batteries includes not only safety, reliability and long battery life, but also needs to meet differentiated requirements such as fast energy replenishment, wide temperature range, low energy consumption and strong power.