New energy vehicles, RV reducer industry under the rapid growth of development opportunities

The penetration rate of new energy vehicles continues to increase, and the double ring transmission products usher in a large volume. In recent years, the penetration rate of new energy vehicles in China has been increasing year by year, reaching 13.3% in 2021 and expected to approach 40% in 2025. Compared with the gear of the traditional automobile, the precision of the gear of the new energy vehicle is higher. From the German DIN6 level standard to 5 level, the precision of processing equipment requirements are higher. Double ring drive has the first-mover advantage in the field of new energy reducer gear and has accumulated deep, many years ago has been cut into the technical field of new energy vehicle transmission parts and has advanced manufacturing equipment, master the process production skills, can fully meet the required capacity. In addition to supporting a number of new energy models for domestic brands such as SAIC, Geely, BYD, Guangzhou Automobile, Double-ring Drive actively extends the project cooperation with foreign brands such as Borgwarner, Shanghai, Mainland, Schaeffler and other customers, and participates in the bidding of overseas new energy leader enterprises. In April 2020, Double Ring Drive (Jiaxing) Precision Manufacturing Co., LTD., a wholly-owned subsidiary of Double Ring Drive, won the sample purchase order of the world’s leading electric vehicle brands. In 2021, the double-ring drive new-energy-related gear revenue accounted for about 11% of the total revenue, which is expected to continue to increase with the increase of new energy penetration in the future.

With the aging of China’s population, the adjustment of the industrial structure of the manufacturing industry, as well as the upgrading of intelligence and automation, the demand and application fields of industrial robots continue to expand, and the speed reducer industry develops rapidly with a good prospect. Since the double ring drive project research and development of reducer in 2013, through the continuous promotion of RV reducer development and technological breakthrough, has broken the similar products by the Japanese and European brands monopoly situation, into the mass production and application and gradually expand the market share of the commercialization stage, and gradually expand the market share. In 2016, the company entered the reducer market and cooperated with Siasun Robot. In 2018, the double ring transmission signed a strategic cooperation agreement with Eft, forming 10,000 sets of reducer supply. RV reducer technical difficulty is high, long-term monopoly technology by foreign manufacturers, domestic manufacturers of supporting system is weak, research and development started late, but the double ring transmission after years of research and development, has a stable mass production of high-precision gear technology accumulation and research and development strength. At present, double ring drive has more than 40 types of RV reducer products, load range of 6-500kg, basically realize the full coverage of robot reducer products and domestic comprehensive replacement. The developed serialized high precision joint reducer has been widely used in many domestic first-line industrial robot products. As the only domestic RV reducer manufacturers, with the continuous expansion of production capacity, coupled with domestic precision reducer unit price of about 30%-50% of the import price, high price advantage, is expected to double ring drive market share is expected to reach about 10%-20% in the future, occupying the leading position in the domestic reducer industry.