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Bosch and Jiangling Plan Joint EV Venture

Bosch and Jiangling Plan Joint EV Venture

Home » News » Regions » Greater China » Bosch and Jiangling Plan Joint EV Venture
2024-11-16
Jack Hao
Jack Hao
Jack Hao

Bosch and Jiangling Group have signed a joint venture agreement in Nanchang, planning to establish a joint venture to jointly develop and sell electric drive axle systems for light commercial vehicles. The registered capital of the planned joint venture is 500 million yuan (63 million euros), with Bosch holding 60% and Jiangling holding 40%. The newly established company will be mainly responsible for the development, application, production, sales, and service of electric drive axle systems for light commercial vehicles.

Bosch will rely on its experience in electric drive technology to provide core technical capabilities such as electric drive, electric motors, and electric control, while Jiangling Group will contribute its insights in the complete vehicle field and grasp of the local market.

According to Bosch’s forecast, about one-third of trucks will be equipped with batteries by 2035. The electrification trend in the mobility sector will help reduce carbon emissions and meet future global energy demands.

Source: bjcv    Read The Article

PSR Analysis: In 2023, the sales volume of new energy commercial vehicles in China reached 447,000 units, a year-on-year increase of 32.3%. This significant growth indicates that the new energy commercial vehicle market is rapidly expanding. In 2023, the market penetration rate of new energy commercial vehicles in China exceeded 11% and maintained a relatively fast growth trend.

From January to September 2024, the penetration rate of new energy commercial vehicles in the commercial vehicle market reached 18%, a considerable improvement over last year. In September, the penetration rate of new energy commercial vehicles reached 24%, an increase of 10% compared to 14% in September of the previous year.

In urban logistics, public transportation, and sanitation sectors, the demand for new energy commercial vehicles is growing rapidly. Sales of products such as new energy mini-trucks and new energy light buses are both showing an upward trend.

New energy light trucks have advantages over traditional fuel vehicles in terms of purchase tax and vehicle maintenance costs, which are attractive to price-sensitive users. However, progress in the heavy truck sector remains slow. Heavy truck electrification needs to address issues such as battery capacity, load-bearing capacity, and the ability to support infrastructure services. A heavy truck with a battery capacity of around 350kWh can travel about 120 kilometers when fully charged, which limits the long-distance transportation capabilities of electric heavy trucks.

At the same time, the initial purchase cost of electric heavy trucks is high. Although the cost is gradually approaching that of traditional vehicles under the battery swapping model, the overall purchase and operating costs of electric heavy trucks remain a challenge. Heavy trucks are mainly used in long-distance transportation scenarios, which have higher requirements for endurance and refueling facilities. In contrast, light trucks are mainly used in short-distance transportation such as urban logistics, which is more suitable for current electric technology applications.   PSR

Jack Hao is Senior Research Manager – China for Power Systems Research

Categories: Electrification, Greater China, Partnerships, PowerTALK, Production
Office: China Office

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