The promotion of new energy vehicles in rural areas is undoubtedly a promising growth opportunity, but being willing to respond to this call and be the first to take action is not easy. So, what are the reasons behind Wuling’s choice to do so? On one hand, as a leading automobile manufacturer, Wuling has always actively responded to the national call. This year, with intensified market competition, the market share of domestic micro vehicles (A00 segment) has also contracted. According to data from the China Passenger Car Association, in April 2023, the new energy A00 segment market experienced a decline in wholesale sales volume of 28% year-on-year and 2% month-on-month. It accounted for a 13% share of pure electric vehicles, a decrease of 23 percentage points compared to the previous year. The changing landscape of the new energy market since the beginning of this year poses risks that the entire industry and the A00 segment market are facing together. In this market environment, Hongguang MINIEV still stands as the leader in the small new energy vehicle segment of the A00 market, with a market share of 41.6%, surpassing the combined market shares of the second, third, fourth, and fifth-ranked models. It holds an absolute leading position in terms of sales. By actively responding to the call for promoting new energy vehicles in rural areas, Wuling undoubtedly demonstrates its responsibility as a leader in the micro vehicle market. In order to better respond to the national strategy for the development of new energy, Wuling has actively promoted the development of the new energy industry chain in recent years and launched the “125” strategy, which consists of “one innovation platform, two million-scale platforms, and five billion-scale industries.” The strategy aims to use the Guangxi New Energy Vehicle Laboratory as a source of technological innovation, establish two million-scale platforms for pure electric and hybrid powertrain systems, and develop five billion-scale industrial clusters in energy systems, electronic controls, intelligent electric propulsion, intelligent mobile robots, and innovative trade and commerce. This strategy will drive the company’s comprehensive transformation in terms of strategy, globalization, technology, products, and marketing services towards the new energy direction.
