In recent years, as e-commerce and online shopping have expanded rapidly, China's express delivery industry has experienced significant growth. This surge in demand is expected to drive the need for electric logistics vehicles. Last year, the total volume of express deliveries reached 20.6 billion, representing a 48% increase compared to the previous year, with daily processing capacity peaking at around 160 million packages. From a cost perspective, logistics expenses are primarily composed of transportation, management, and storage costs, with transportation accounting for over 50%. Electric logistics vehicles can reduce costs by at least 30% compared to traditional gasoline-powered vehicles, making them a more economical choice for businesses.
Electric logistics vehicles are not limited to traditional trucks; some passenger cars and even a small number of commercial vehicles can also be used for logistics purposes. Currently, highway logistics operations are categorized into provincial, inter-city long-distance, and intra-city short-distance transport. According to data, China produced 47,800 pure electric vehicles last year, mostly used for logistics, with a few for sanitation. Analysts predict that by 2020, the electric vehicle logistics market in China could reach 400,000 units, with a compound annual growth rate exceeding 50%, positioning it as a key growth area for new energy vehicles.
On the policy front, in August this year, the Ministry of Industry and Information Technology released the list of new energy vehicles included in the "Announcement of Road Motor Vehicle Manufacturing Enterprises and Products" (No. 287), featuring 236 new energy vehicles, including 190 pure electric models. Additionally, in 2016, four ministries, including the National Development and Reform Commission, issued a notice on financial support policies for the promotion and application of new energy vehicles from 2016 to 2020. This policy aims to improve the operational framework for city logistics delivery vehicles and does not impose restrictions on new energy logistics vehicles. It also eliminates total control over the operating rights of logistics vehicles in new energy cities, encouraging the leasing of such vehicles. With strong policy backing, the electric logistics vehicle sector is set for substantial growth.
The core components of electric vehicles include motors, electronic controls, and batteries. Among these, batteries account for approximately 45% of the total cost, while the motor and electronic control system make up about 15%. The motor is a crucial component of new energy vehicles, and the electric drive system controls its operation. Together, they form the heart of the vehicle’s powertrain. As the production and use of electric logistics vehicles continue to rise, the market for electric motor control systems will expand rapidly. Analysts estimate that the electric motor control market for logistics vehicles in China will reach 3.4 billion yuan this year, and by 2020, it is expected to grow to 13.5 billion yuan, with a compound annual growth rate surpassing 50%.
Currently, the majority of the electric motor control market is dominated by domestic manufacturers, while foreign companies have relatively weaker competitiveness. Domestic motor companies can be broadly classified into three categories: those with full vehicle manufacturing experience, specialized manufacturers of new energy vehicle motor and control systems, and those transitioning from traditional motor production to new energy vehicles. As the production and sales of new energy vehicles continue to rise, electrical and electronic control companies are anticipated to see significant development opportunities.
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