Ouyang Minggao outlined the industrial reforms underway in the auto industry from a macro perspective. He believes NEVs embody three technological changes that are unprecedented in the development of the auto industry.

First, the electrification of power systems. Lithium batteries sets off a once-in-a-century revolution and brought NEVs into our lives. In the coming 10 to 15 years, NEVs are expected to reach mass adoption with ownership of 100 million units. As NEVs gain a dominant position in the market, the comprehensive electrification of urban transport will also advance.Second, the low carbon revolution. Available NEVs are not NEVs in the real sense, as the electricity they use is not entirely from clean energy. As we approach the goals of carbon neutrality and peak carbon, NEVs are likely to achieve the goal of using only new energy.

Finally, intelligent revolution. Since hundreds of millions of NEVs are scattered across China, IoT and blockchain technologies are needed to connect them, making vehicles the largest form of intelligent terminals.

Download the full report：The New Revolution in the Automobile Industry