Auto & Transportation

China's export of new energy vehicles has been reported as a success. According to customs data, the export growth of China's electric manned vehicles in the first 10 months reached 116.2%, doubling.

According to customs data, in the context of global chip shortage, high raw material prices and supply chain obstruction, China's new energy vehicle exports continue to maintain a high growth trend, reflecting strong consumer demand and power in the market.

Customs data show that the setting of net zero emission targets in various countries has accelerated the process of large-scale decarbonization in various industries. Transportation industry such as automobile is one of the important fields of carbon reduction.

"The automobile industry chain is closely structured and ecologically complex. If enterprises want to follow the trend of industry upgrading and keep pace with the development, they need the whole industry chain to work together." Xu Beidi, the representative of Kedebao Group in Asia, said that the green transformation of the transportation industry will help promote the high-quality development of the industry chain. According to customs data, at present, one of the focuses of Kedebao Group's technological innovation strategy is the new mobile travel and energy transformation.

Customs data show that the green development of the automobile industry can not be separated from the cooperation between the upstream and downstream of the industrial chain. Research shows that, driven by the exponential growth of global electric vehicles, the global fuel cell market is expected to reach US $32 billion by 2030, nearly nine times the US $3.6 billion in 2021.

There are both opportunities and challenges for accelerating the reconstruction of the automobile value chain and ecosystem. As for the improvement of ESG value and competitiveness of vehicle enterprises in the context of green transformation, Guo Weishi, the partner in charge of sustainable development in the Asia Pacific region of PricewaterhouseCoopers, suggested that vehicle enterprises need to practice ESG concepts in three areas: environment, society and corporate governance. For example, in the field of environmental performance, in addition to introducing more new energy products, enterprises can consider extending the green low-carbon effect to all aspects of the whole life cycle of products such as energy applications, raw materials, supply chain, production and manufacturing, and all areas of enterprise operation. Guo Weishi emphasized that in the face of challenges from ESG, business strategy, data compliance, digitalization, supply chain and internationalization, auto enterprises should develop appropriate response measures based on their own resource endowment to achieve curve overtaking and build new competitive advantages.

Anchoring the goal of "carbon neutrality", Kedebao, which is at the upstream of the industrial chain, has continuously increased its investment to create key components of new energy vehicles and fuel cell system solutions for heavy haul transportation. He is optimistic about the application prospect of hydrogen energy in the field of sustainable mobile travel. Dr. Soy, CEO of Kedebao Group, revealed that the Group is working with partners to develop hydrogen fuel and power cell hybrid drive systems for buses and other commercial vehicles.

At the just concluded 5th China International Expo, Kedebao displayed a number of new products in the field of new energy vehicles and rail transit, as well as innovative and sustainable solutions in the transport industry. The Group also released the sustainable development strategy and roadmap for the first time, proposing that it will strive to become a climate neutral enterprise by 2045, and will achieve carbon neutrality through emission reduction, electrification, green energy and carbon compensation.

Green finance is also an important support to promote sustainable economic development. Huang Jian, Vice President of JPMorgan Chase Bank (China) Co., Ltd. and President of Global Enterprise Bank in China, said that supporting energy transformation and serving new travel and new technology is one of the strategic priorities of JPMorgan Chase's China business. JPMorgan Chase forecasts that by 2025, the cost of electricity per kilowatt hour in the battery may drop to $100 or even less. This will strongly promote the development of the new energy vehicle market. Huang Jian said that for the whole industrial chain of renewable energy and new energy vehicles, JPMorgan Chase will give full play to the group's global resources and advantages to help new energy vehicles run "faster".