Huge shortage of charging piles in Europe and the United States, the market is expected to rapidly release, overseas charging piles are progressing rapidly

Under the pressure of carbon emissions, countries around the world have introduced relevant policies to promote the development of the automotive industry to electrification. From the recent policy orientation of the countries, most of them still continue the positive attitude of subsidizing new energy vehicles. Europe and the United States new energy vehicle market is in a period of rapid volume, penetration rate to enhance the space is larger. According to the IEA forecast, in 2025, 2030 and 2035, the penetration rate of electric vehicles in Europe will rise to 31%, 60% and 87%, and the sales volume will reach 4.8/9.2/13.62 million vehicles. 2025, 2030 and 2035, the penetration rate of electric vehicles in the United States will rise to 20%, 55% and 71%, and the sales volume will reach 3.06, 8.8, and 11.2 million vehicles.

In 2022, many European countries have introduced policies and enhanced subsidies and tax incentives for enterprises and individuals to invest in the construction of charging piles, and the purchase and construction of charging piles in the United Kingdom, France, Spain and other countries can receive subsidies of up to 40%-80%. The U.S. IRA bill proposes a tax credit policy for charging piles, and the goal is to build 500,000 electric vehicle charging piles in the whole U.S. by 2030. The rapid construction of charging piles in the European and American markets is seriously lagging behind the growth rate of new energy vehicles, and the vehicle-to-pile ratio is high. The public vehicle-to-pile ratio in the United States has been rapidly increasing since 2020, from 21.87 to 24.41, and the public charging pile ownership in Europe will be about 570,000 in 2023, and the vehicle-to-pile ratio will reach a high level of 19.66 as well. From the public charging pile structure, 23 years the United States fast charging accounted for only 28.57%, Europe fast charging accounted for only 19.3%, while China has reached 54% in the same period.

Europe and the United States charging pile certification for the current charging pile out of the primary barriers. At present, it has passed the global major qualification certification and realized batch sales. AC charging pile products in 2021, that is, to obtain the European standard test certification, rapid entry into the European market. At present, the relevant products have passed CE, TUV, UKCA, UL, CSA, PTB, CTEP, Energy Star, CQC, TR25, LNO and other world authoritative certificates, and the products have been listed to get the orders from many countries in North America, Europe, Asia and other regions one after another and realize the batch delivery. Combining the automotive diagnostic technology, battery testing technology, big data AI technology, which has been accumulated for many years, and charging technology, which has been a key investment, we have formed vehicle-pile compatibility technology, safe charging technology, and so on.

In 2023, it released three important products, namely, high power supercharging pile, small DC pile, commercial AC pile, covering a power range of 20-640KW.24 In January 24, it launched its flagship product, DC supercharging pile MaxiChargerDCHiPower at the International Consumer Electronics Show in Las Vegas, U.S.A., which has become the industry leader with the top level of the highest 640kw charging power, and the single shot The output power reaches 480kw, marking a major breakthrough in the field of supercharging. At the same time, the product with the top liquid cooling technology combined with the patented AI matrix algorithm energy efficiency optimization significantly reduces costs and improves site performance.

Long-term deep cultivation of overseas markets, has a wealth of experience in globalization layout, sales network has covered more than 70 countries or regions around the world, such as North America, Europe, China, Asia-Pacific, South America, IMEA (India, the Middle East, Africa), and initially formed an integrated global marketing network. 2023, the successful signing of a number of the world's top 50 large-scale enterprise customers, the reserve of strategic customers showed exponential growth. The company has established localized production capacity in the United States and Vietnam, which can effectively avoid the risk of international trade and reduce tariff costs at the same time. With the further climb of overseas factory capacity, it is expected that the revenue share of North America region is expected to continue to increase in 2024.