Inovance United Power has strong performance in the new energy vehicle market

Inovance's share in China's new energy vehicle market is increasing. In the first half of 2024, its electronic control products accounted for about 11% of China's new energy passenger vehicle market, ranking first among third-party suppliers; its assembly products accounted for about 5.9%, ranking fourth; and its motors and OBC products accounted for 4.7% and 4.6% of the market share, respectively.