China's passenger car OBC installations increased by 38% year-on-year in the first half of the year, with local companies performing well

In the first half of 2024, the installed capacity of OBC for passenger cars in China reached 3.92 million sets, an increase of 38% year-on-year. In the OBC product market, Fudi Power, VMAX and Tesla ranked in the top three, of which Fudi Power and VMAX had a combined market share of more than 50%. Huawei Digital Energy and Inovance United Power are the two fastest growing companies, with Huawei's growth rate exceeding 400% and Inovance United Power reaching 380%. Among these companies, except Tesla and Kostal, the rest are domestic companies.