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

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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.