Event: the registration volume of new energy vehicles in February of the eight European countries was announced
In February, the number of new energy vehicles registered in the eight European countries was 123000, with a year-on-year increase of + 32%, a month on month increase of + 7%, a penetration rate of 20.8% and a month on month increase of + 1.3pct, which was in line with expectations as a whole. Among them, 70000 pure electric vehicles were registered, with a year-on-year increase of + 70% and a month on month increase of + 10%; The registration volume of plug-in hybrid vehicles was 53000, with a year-on-year increase of + 2% and a month on month increase of + 3%.
The penetration rate of new energy vehicles in eight European countries in February was 20.8%, with a month on month increase of + 1.3pct. The main reasons are as follows:
In February, Tesla‘s registration volume in many countries in Europe increased significantly month on month: at present, the origin of Model3 / y sold in Europe is the United States and China. Generally, it is exported and transported at the beginning of the quarter and delivered in Europe at the end of the quarter. Affected by the delivery rhythm, the registration volume of Tesla in Europe fluctuates greatly in each month. In January, Tesla sold only 823 vehicles in Europe, and in February, the sales volume has rebounded to 15180 vehicles, thus driving the sales volume and penetration rate of pure electric vehicles. Among them, the French model 3 / y registered 5944 vehicles, with a month on month increase of + 5525 vehicles; The total registered volume of German Model3 / y is 5944, with a month on month increase of + 5525; The total registered volume of UK Model3 / y is 2323, with a month on month increase of + 2207.
Continuous optimization of pure electricity structure: in February, the sales volume of pure electricity was 70000, with a year-on-year increase of + 70%, and the proportion of pure electricity further increased to 57%
From the perspective of product structure, the registered volume of pure electricity of the eight European countries in February was 70000, a year-on-year increase of + 70%; The number of plug-in hybrid registrations was 53000, only + 3% year-on-year, and the growth of pure electricity was strong. On the demand side, in order to meet the short-term carbon emission assessment, European countries are in the transition period from hybrid to pure electricity. The high short-term PHEV subsidy is an important means of consumer product transition. The improvement of long-term charging equipment drives the improvement of pure electricity acceptance; On the supply side, the new electric vehicle platform drives the launch of new vehicles and generates demand. The pure electric platform has experienced a development cycle of more than 2 years, and high-quality pure electric vehicles have begun to be launched. According to our statistics, at least 30 new electric vehicles will be launched in the European market from 2021h1 to 2022, most of which are pure electric vehicles, thanks to the new products in terms of battery energy density With the improvement of mileage and electronic and electrical structure, the trend of increasing the proportion of pure electric sales in Europe has gradually appeared since 2021h2, and the data in February continued to strengthen.
Investment advice
It is estimated that the overall registration of new energy vehicles in Europe in February is about 148000, up 7% month on month, maintaining the expectation of 2.85 million vehicles in Europe in the whole year. Europe is currently in the process of transition from plug-in hybrid to pure electricity. We should pay attention to the structural changes of electric vehicles in Europe. It is expected that the proportion of pure electricity will increase from 55% to 64% in 2022. Promising the overseas supply chain of lithium and materials for the Chinese midsmidsmidsmidsmidsmidsmidsmidsmidsmidsmidstream’Chinese, and promising the overseas supply chain of lithium and materials for the Chinese midsmidsmidsmidsmidsmidstream, and recommending the 30 Huangshan Novel Co.Ltd(002014) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Shenzhen Kedali Industry Co.Ltd(002850) , Shenzhen Senior Technology Material Co.Ltd(300568) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Shenzhen Capchem Technology.Ltd(300037) , etc.
Risk tips
There is a risk that the production and sales of new energy vehicles in Europe do not meet expectations.
