Jiangsu Provincial Department of Industry and Information Technology recently released the 2024 Development Report on Jiangsu’s New Energy Vehicle (NEV) Industrial Cluster. The report reveals that in 2024, the production and sales of NEVs in Jiangsu reached 1.226 million and 1.28 million, respectively, marking year-on-year increases of 17.1% and 23.7%. These figures account for 9.5% and 9.9% of the national totals, reflecting an overall upward trend. NEV production represented 55.7% of the province’s total automobile output, 14.5 percentage points higher than the national average.

As one of Jiangsu’s 16 prioritized advanced manufacturing clusters, the NEV cluster encompasses four industrial chains: electric vehicles, power batteries (industrial chain of excellence), automotive components, and hydrogen fuel cell vehicles (future-oriented industrial chain). In 2024, 1.017 million NEVs were registered in Jiangsu, achieving a 44.2% market penetration rate. The province’s total number of NEVs in use reached 2.691 million, with a 10.6% penetration rate. Companies in specific sectors are performing well. Xingyu Co., Ltd. maintains its position as China’s top automotive lighting manufacturer; Weifu Group in Wuxi ranks among China’s top 30 automotive component suppliers. In terms of electric drive systems, Inovance Automotive (a leader in electronic controls) holds the second-largest market share nationally; Suzhou Lvkon Transmission Technology Co., Ltd., specializing in power trains for new energy heavy-duty trucks, ranks among the top three in commercial vehicle electric drive installations. For hydrogen fuel cell vehicles, Jiangsu is home to over 140 key enterprises, with virtually complete industrial chains established in fuel cell stacks and systems, vehicle manufacturing, and hydrogen production, storage, and transportation.