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As the global automotive industry accelerates its electrification transformation, new energy vehicles have become a strategic emerging industry in my country. In the new energy vehicle industry, commercial vehicles are gradually becoming one of the most promising segments. In 2024, new energy commercial vehicles will continue to grow rapidly, with the penetration rate increasing from 8% in the first half of last year to 15.7%. Recently, the National Development and Reform Commission, the Ministry of Transport, and the Ministry of Finance have frequently issued documents focusing on the scrapping and renewal of old operating trucks. This policy also indirectly confirms that under the dual influence of policies and markets, the green transformation of commercial vehicles is accelerating.

However, compared with the 41.8% penetration rate of new energy passenger vehicles, new energy commercial vehicles still have huge room for improvement. According to data from QY Research, the global new energy commercial vehicle market is expected to reach US$162.404 billion by 2029, with a compound growth rate of 18.41% from 2023 to 2029.

At the same time, commercial vehicles are of great significance in energy conservation and emission reduction and promoting the vision of carbon neutrality. Zhang Yongwei, vice chairman and secretary general of the China Electric Vehicle 100, believes that commercial vehicles are the main body of energy conservation and emission reduction, and the transformation to new energy is more urgent than that of passenger vehicles.

However, major pain points such as battery cost, charging efficiency, and driving range are still the biggest obstacles to the new energy development of commercial vehicles, which are highly sensitive to cost and efficiency.

Xu Changming, senior economist at the National Information Center, said at the 2024 China Automotive Forum that the penetration rate of new energy commercial vehicles may reach 20% under policy promotion. But to rise to a higher level, it depends on whether the products and the market are sufficiently competitive.

"It's not realistic to force everyone to buy without competitiveness," said Xu Changming.

Faced with industrial changes, commercial vehicles are facing all-round challenges such as reshaping the value chain, disrupting the competition landscape and building an ecological system.

So, as Xu Changming said, where does the competitiveness of new energy commercial vehicles come from? Perhaps, we can find some answers from the development history of Yuancheng new energy commercial vehicles.

Among the nearly 100 companies producing new energy commercial vehicles in China, about one-fifth of sales come from Yuancheng. Yuancheng is also the only company in the industry that has doubled its market share for three consecutive years and has a product market share of over 20%, making it a well-deserved industry leader.

It is worth mentioning that on August 1, with the mass production of a Yuancheng Xinghan H alcohol hydrogen electric vehicle, Yuancheng was the first to reach the milestone of 300,000 new energy commercial vehicles, which also marked the birth of the world's first 300,000 new energy commercial vehicle brand.

This day coincides with the tenth anniversary of the establishment of Remote.

Where does Yuancheng's industry-leading advantage come from? In addition to continuous accumulation, Yuancheng also benefits from persistent technological innovation, which has enabled Yuancheng to achieve industry-leading competitiveness and establish confidence in China's new energy commercial vehicle brand.

And this result is inseparable from the long-termism that lasts for ten years or even longer.

Since its establishment in 2014, Yuancheng has adhered to the development concept of "taking R&D as the guide and innovative business model as the basis", and puts technological innovation at the top of brand development.

As an important implementation of Geely's strategy of developing both passenger and commercial vehicles, Yuancheng has laid out a new generation of new energy intelligent commercial vehicles based on passenger vehicles. Relying on the Geely Holding Group Central Research Institute, Yuancheng has built China's largest new energy commercial vehicle research institute and formed two core technology routes of "alcohol hydrogen + electric", achieving full-stack self-development of the three core technologies, and leading the new energy commercial vehicle industry to usher in the era of architecture manufacturing.

In the pure electric field with numerous competitors, no matter what kind of electric system, battery, electronic control and electric drive are always the heart of new energy vehicles. Yuancheng has also developed a full stack of three-electric core technologies suitable for commercial vehicle demand scenarios. Based on intelligent cloud control and core integration, it covers the research and development and manufacturing of core products such as battery systems, electric drive systems, and domain control. It has also launched many cutting-edge technologies such as multi-motor central drive power chain, seven-in-one power integration, and coaxial electric drive bridges, making electric drive not only more integrated and efficient, but also digitally intelligent, helping to break through the power and efficiency of new energy commercial vehicles.

In terms of electric drive systems, the 1200V platform IGBT chip developed by Yuancheng and specially designed for the powertrain system of new energy commercial vehicles has been successfully taped out. After installation on the vehicle, it will greatly improve the energy efficiency performance; the i-MPS multi-motor flexible torque central drive chain, also independently developed, can significantly reduce the cost of electric heavy trucks while greatly expanding the application scenarios.

In addition, Yuancheng has also successfully developed the second-generation Si/SiC-based module for new energy commercial vehicles - H1C. Compared with the previous generation of inverter products, this module has an overall weight reduction of about 5%, improving the overall space utilization while demonstrating cost advantages, and can adapt to the use scenarios of commercial vehicles with higher intensity and more complex working conditions.

Just last month, Yuancheng launched a smarter commercial battery - the Xuanwu Battery, which has been comprehensively innovated in four areas: battery cells, structure, thermal management, and intelligent BMS. It has four core advantages, including a 10-year, 800,000-kilometer warranty on battery life, a maximum 4C fast charging efficiency, a safety level that is twice the national standard, and 24-hour protection of the battery "cloud hospital".

At the same time, the intelligent architecture that can be continuously upgraded in the new energy era has become one of the brains and core competitiveness of the leading automobile. The GXA digital intelligence architecture created by Yuancheng integrates the relevant safety, lightweight and technological technologies accumulated by Geely in the field of passenger cars. At the same time, based on the hardware foundation of the E/E electronic and electrical architecture, the GXA architecture has the ability to continuously iterate and upgrade in the three major technologies of intelligent driving, intelligent cockpit, and intelligent networking, opening a new era of "architecture-based vehicle manufacturing" in the new energy commercial vehicle industry.

In the face of higher-intensity and more complex operating scenarios for commercial vehicles, relying on Geely's nearly 20 years of technological accumulation in the methanol field, the alcohol-hydrogen electric strategic technology route remotely created has now been fully industrialized and operated, and the product's environmental protection, economy, applicability and reliability have been fully verified.

Alcohol-hydrogen electric vehicles are an upgraded development of automotive electrification. Based on the advantages of economy, environmental protection and sustainability, they effectively make up for the shortcomings of pure electric and hydrogen fuel applications and enrich the technical route of automotive electrification. They not only help solve China's energy security and transportation emission reduction problems, but also bring better TCO performance to users.

Based on the business model, Yuancheng is not a traditional automobile manufacturer. Its alcohol-hydrogen ecological technology focuses on vehicle promotion, and is driven by capital and product markets. It develops green alcohol preparation, methanol filling, and alcohol-electric vehicles in a three-in-one coordinated manner, and develops green methanol in three steps to create a trillion-level green ecological industrial chain with Chinese characteristics.

The past ten years of Yuancheng have seen a rapid improvement in the technological innovation capabilities of new energy commercial vehicles, a leapfrog development of the industry, and a decade of laying the foundation for leading the development of new energy commercial vehicles around the world. As the most direct result of long-termism, Yuancheng has applied for more than 3,000 patents, including a large number of core technology patents related to new energy vehicles, and has led and participated in the formulation of 75 national, industry and group standards.

Just like in the field of passenger vehicles, the new energy and intelligentization in the commercial vehicle industry is a marathon with no end. Only by adhering to long-termism can we win sustainable victory in the new track. Long-termism is a pattern for enterprises. In the process of continuous innovation and value creation, it can reshape the dynamic moat of enterprises, provide material and spiritual support for Yuancheng to defend its leading position in the industry, and better establish Yuancheng's brand confidence at home and abroad, as well as its brand image in the international market.

Relying on technological originality based on long-termism, Yuancheng has not only built a solid moat against industry competition, but also established brand confidence; while continuing to consolidate its position as the industry's top brand, it is also leading China's and even the global new energy commercial vehicle industry into a new stage of development.