In May 2023, CITIC Securities released the latest research report, pointing out that the market demand for new energy vehicles in China has obviously picked up. In April, the domestic sales volume of new energy vehicles was 636,000, up by 1 12.8% year-on-year, but down by 2.6% month-on-month. At the same time, the sales of electric vehicles in Europe were under pressure in April, with a year-on-year growth rate of about 20%, but a decrease from the previous month.
Although the sales situation in April is not ideal, in the long run, the global new energy vehicle market will continue to grow. Therefore, we should rely on the opportunities of high-quality targets in the global electrification supply chain, especially the chemical supply chain of BYD, Contemporary Ampere Technology Co., Ltd. and LG.
BYD is one of the leading manufacturers of new energy vehicles in China, and its sales network is all over the world. In April 2022, BYD's sales of new energy vehicles reached 1.45 million, a year-on-year increase of 54. 1%. At present, BYD has begun to expand its overseas market share.
Contemporary Ampere Technology Co., Ltd. is the largest lithium battery manufacturer in the world. The company supplies lithium batteries to many well-known automobile manufacturers around the world, including Tesla, Daimler and Volvo. In the first quarter of 2022, the net profit of Contemporary Ampere Technology Co., Ltd. increased by 1 17% year-on-year.
LG Chem is one of the leaders in the global battery manufacturing industry. The company has rich experience in the electric vehicle market and has cooperated with many large automobile manufacturers, playing an important role in providing high-quality batteries. In the first quarter of 2022, the company's battery sales increased by 12.6% year-on-year.
It should be noted that the advantages of China automobile enterprises in overseas new energy markets are still insufficient, and they need to develop in the later period. In the future, China new energy automobile enterprises need to strengthen their own technology research and development capabilities, enhance product competitiveness, and thus better gain development opportunities in the international market.
In short, under the background of the long-term growth of the global new energy vehicle market, investors can seize the opportunity of high-quality targets in the global electrification supply chain, especially the chemical supply chain of BYD, Contemporary Ampere Technology Co., Ltd. and LG, while China new energy vehicle enterprises need to strengthen their own technological research and development strength, further improve product quality and innovation ability, so as to adapt to the fierce international market competition.