Hainan Province is one of the most aggressive regions in promoting new‑energy vehicles. Its NEV penetration rate is significantly higher than the national average, and it has continuously introduced a series of measures to accelerate NEV adoption. These initiatives include support for commercial‑sector vehicles and enterprises—such as subsidies for NEV trucks—as well as consumer‑level incentives at the usage stage. In addition, Hainan’s NEV regulatory platform tracks both vehicle mileage and charging activity, enabling more precise calculations of subsidy amounts.

In the competition for new‑energy vehicle batteries, whether it’s pure electric cars or range‑extended EVs, what technology a car uses matters little to the average consumer; what really counts are the vehicle’s features and its driving range. Thus, at its core, the battle in the new‑energy‑vehicle market still comes down to battery technology.

Charging Piles: Cables for new-energy vehicles are primarily used in the high-voltage electrical systems of pure electric, hybrid, and fuel-cell vehicles, as well as in charging stations. Among these, cables for charging stations constitute another distinct category within the company’s portfolio of specialty cables. The company’s customers in the new‑energy vehicle sector mainly comprise vehicle manufacturers and charging‑station operators, contributing to a fully integrated new‑energy industry chain. At present, a new wave of global technological revolution and industrial transformation is gaining momentum, with accelerating convergence among automotive technologies and those in energy, transportation, and information and communication sectors. Electrification, connectivity, and intelligence have become the prevailing trends shaping the automotive industry. Leading automotive nations are actively promoting new‑energy vehicles, and China, in particular, seeks to leverage this development trend to overtake others and achieve its goal of becoming a global automotive powerhouse. Consequently, the growth of China’s new‑energy vehicle market is largely driven by policy measures; total investment in the sector has exceeded substantial levels, resulting in a comprehensive industrial‑chain layout. To nurture the domestic new‑energy vehicle market, the Chinese government has introduced subsidies for consumers purchasing such vehicles. As a result, the industry has expanded rapidly during its formative phase, and today China’s stock of new‑energy vehicles accounts for more than half of the global total.

The delegation inspected the company’s new-energy vehicle products, toured the exhibition hall, and gained an in-depth understanding of the company’s development history, design philosophy, R&D and production of new-energy vehicles, as well as its industrial strategic planning.

Although sales of gasoline-powered vehicles still significantly outpace those of new-energy vehicles, the automotive market has now entered a phase of stock‑based competition, with the balance of power shifting in favor of NEVs. Consumers who previously favored gasoline cars are increasingly turning to new‑energy options. In addition, WEY and Tank have been integrated, with the aim of positioning new‑energy brands in the high‑end luxury segment and entrusting them with the mission of elevating the brand’s overall image.