The first quarter of 2025 in China’s new energy vehicle (NEV) supply chain industry showcases a dual-track dynamic. The top 10 suppliers in segments like power batteries and onboard chargers (OBCs) control more than 90% of the market, indicating a trend towards increased industry concentration. Companies like FinDreams Technology and CATL are leading the way in building strong technology barriers through vertical integration and research and development (R&D). As car manufacturers ramp up in-house production and innovation accelerates, competition in the supply chain is transitioning from product-level rivalry to a broader contest for technological ecosystems and industry influence.
Top Power Battery Suppliers: The top five power battery suppliers hold a significant 83.9% market share in Q1 2025. CATL leads with a 42.3% market share, closely followed by FinDreams Battery with 26.8%. The concentration of power battery suppliers reflects the dominance of leading companies leveraging technological expertise and strong customer networks. Small and medium-sized companies must focus on innovation to find growth opportunities in the expanding NEV market.
Top Power Battery Pack Suppliers: Car manufacturer-backed suppliers dominate the power battery pack market, with over 50% share controlled by companies like FinDreams Battery, Tesla, and Leapmotor. This trend highlights the industry’s shift towards deeper vertical integration as carmakers aim to strengthen control over core components and sharpen their technological edge.
Top BMS Suppliers: Battery management system (BMS) suppliers are seeing a shift towards car companies seeking independent control over this core technology segment. Companies like FinDreams Battery and VREMT are leading the market, emphasizing the importance of technological sovereignty in the increasingly intelligent and connected NEV landscape.
Top Electric Drive Motor Suppliers: The electric drive motor supplier market is experiencing a new competitive shift with companies like FinDreams Powertrain, Tesla, and Huawei Digital Power leading the pack. These companies are driving innovation and reshaping the industry ecosystem with their technological advancements.
Top Power Semiconductor Device Suppliers: The power semiconductor device market is dominated by local companies like BYD Semiconductor, CRRC Times Semiconductor, and Silan Microelectronics, accounting for 49.4% of the market share. This trend reflects China’s push towards import substitution and local technological leadership in the NEV industry.
Top OBC Suppliers: The top 10 OBC suppliers control a significant 92.8% market share, with companies like FinDreams Powertrain leading the way. The OBC has evolved into a central node within the vehicle’s energy system, reshaping the NEV industry landscape through technological barriers and ecosystem integration.
Top E-compressor Assembly Suppliers: The top 10 suppliers of E-compressor assembly hold an 89.2% market share, indicating a shift towards integration in the sector. Companies like FinDreams Technology, Aotecar, and Sanden Hasco are setting high entry barriers and driving upgrades across the supply chain with their technological and scale advantages.
Top Electrical Compressor Suppliers: Leading players like FinDreams Technology, Aotecar, and Sanden Hasco dominate the electrical compressor market, reshaping the industry landscape with their technological edge and cost efficiency. Innovation and supply chain collaboration are key capabilities for electrical compressor suppliers to meet car companies’ requirements for energy efficiency and high performance.
The NEV supply chain industry in China is evolving rapidly, with technology and innovation playing a crucial role in shaping the competitive landscape. As companies focus on building strong technological barriers and deepening vertical integration, the future of the industry will be determined by advancements in technology ecosystems and industry influence.
