New Energy Vehicle Industry Chain

Powertrain & Components（三电与核心零部件（上游））Sector — Battery, e-drive, chassis and intelligent hardware systems.

• Power Batteries（动力电池）Component — The highest-cost component, 30–40% of vehicle cost.🔒4

  • Cathode Materials（正极材料）Material — LFP and ternary materials deciding energy density and cost.🔒3

    • Lithium Resources（锂资源与锂盐）Material — Lithium mining and salts, the resource source of the chain.🔒3

  • Anode Materials（负极材料）Material — Artificial graphite today; silicon-carbon next.🔒3

  • Electrolytes（电解液）Material — Ion transport medium governing low-temperature and fast-charge performance.🔒2

    • Lithium Salts（电解质锂盐（六氟/LiFSI））Material — LiPF6 and LiFSI, the core solutes.🔒3

  • Separators（隔膜）Material — Microporous films isolating electrodes; wet process mainstream.🔒2

  • Battery Structural Parts（电池结构件）Component — Cell casings, covers and module structural parts.🔒2

  • Battery Equipment（锂电设备）Equipment — Coating, winding and formation equipment.🔒3

  • Solid-State Batteries（固态电池）Technology — Next-generation route for energy density and safety.🔒3

• E-Drive & Power（电驱与功率系统）Sector — Motors, power semiconductors and onboard power.

  • Drive Motors（驱动电机）Component — PMSMs; flat-wire and oil cooling as upgrades.🔒3

  • Power Semiconductors（功率半导体（IGBT/SiC））Chip — IGBT and SiC devices; 800V platforms accelerate SiC adoption.🔒3

    • SiC Substrates（SiC衬底）Material — SiC substrates, the most value-concentrated link.🔒3

  • E-Axle（电驱总成）Component — Multi-in-one e-axle integration.🔒3

  • On-Board Chargers（车载电源（OBC/DCDC））Component — Onboard chargers and DC-DC converters.🔒2

• Chassis & Body（底盘与车身）Sector — NEV-specific chassis, body engineering and thermal management.

  • Giga-Casting（一体化压铸）Manufacturing — One-shot mega-casting of body structures, a cost revolution.🔒3

  • By-Wire Chassis（线控底盘）Component — Brake- and steer-by-wire, the execution base of autonomy.🔒3

  • Thermal Management（热管理）Component — Heat pumps and integrated battery thermal management.🔒3

• Intelligent Hardware（智能化硬件）Sector — Vehicle hardware for autonomous driving and smart cockpits.

  • ADAS Chips（智驾芯片）Chip — High-compute chips for the driving domain.🔒3

  • LiDAR（激光雷达）Component — 3D sensing; falling prices drive adoption.🔒3

  • Automotive Cameras（车载摄像头）Component — Camera counts keep rising; core of vision-based autonomy.🔒3

  • Domain Controllers（域控制器）Component — Centralized computing for driving and cockpit domains.🔒3

  • Smart Cockpit（智能座舱）Component — Cockpit SoCs, IVI systems and HMI.🔒3

Vehicle Manufacturing（整车制造（中游））Sector — Vehicle manufacturing and autonomous-driving solutions.

• Battery EVs（纯电动整车）System — Pure-electric vehicles, the fiercest battleground.🔒4

• PHEV & EREV（插混与增程）System — Plug-in hybrids and EREVs, the no-range-anxiety mainstream.🔒3

• Commercial NEVs（新能源商用车）System — Electric buses, heavy trucks and logistics vehicles.🔒3

• Autonomous Driving Solutions（智能驾驶方案）Software — End-to-end model driven high-level autonomy stacks.🔒4

Aftermarket & Ecosystem（后市场与生态（下游））Sector — Charging, recycling and the mobility ecosystem.

• Charging & Energy（充电与补能）Sector — Charging piles, battery swap and the V2G network.

  • Charging Piles（充电桩）Equipment — Public fast charging; liquid-cooled ultra-fast next.🔒3

  • Battery Swapping（换电）Service — Swap stations and battery-as-a-service.🔒2

  • Vehicle-to-Grid（车网互动（V2G））Service — EVs as distributed storage supporting the grid.🔒2

• Battery Recycling（电池回收）Service — Second-life use and material recovery closing the Li/Co/Ni loop.🔒3

• Mobility Services（智慧出行服务）Service — Ride-hailing and robotaxi operations.🔒3