数据显示，截至目前，已有16 家企业拿到了国家发改委新能源资质；2017 年，全国新投入整车项目累计达到91 个，21 个省上马了新能源汽车项目，投资规模达到5283 亿元；各类车企已经公开的新能源汽车产能规划中，到2020 年将超过2000 万辆。而根据此前工信部、国家发改委和科技部印发的《汽车产业中长期发展规划》，到2020 年，我国汽车生产将达到3000 万辆左右，其中，新能源汽车生产200 万辆。也就是说，目前各家车企规划的产能总量已经达到了这一规划的10 倍之多。

The mix of EV and internal combustion engine related investments in China in our latest investment round-up highlights the need for automakers to fulfil current demand while also preparing for the industry's future. In Pakistan, Al-Futtaim Group's plan to assemble Renault vehicles in the country continues to build on the growing market diversity theme identified in Q118's project round-up. In our regular round-up of production investments, we track the latest projects from the production side of the industry and analyse regional trends that we see developing. In doing so, we hope to build a picture of any potential hubs that may be developing, as well as company strategy in terms of production bases and export programmes.

The automotive exterior lighting system, which comprises headlamps, rear lamps, fog lamps, and small lamps, enhance user driving experience and convenience. The growing concern for road safety among the government in various nations is fueling innovations in the field of automotive lighting. The increasing consumer demands regarding vehicle safety are due to an increase in development of ADAS. The rapid adoption of ADAS technology will lead to the growth of futuristic automotive lighting technologies such as laser headlamps and OLED lights, among others. Moreover, the increasing demand for electric vehicles is pushing the adoption of automotive lighting with low power consumption.

The motorcycle infotainment system comprises a touch-enabled multi-function control system that acts a central command center for all vehicle functions. These systems enhance user driving experience and convenience. The increased concern of governments across global economies on road safety is pushing innovation in the field of motorcycle electronics. Moreover, the growing consumer demands regarding vehicle safety are leading to the development of advanced driver assistance systems (ADAS). The adoption of motorcycle safety systems will lead to the growth of futuristic motorcycle infotainment systems. The growing demand for electric motorcycles is also pushing the adoption of motorcycle infotainment systems.

North Africa will be the key beneficiary of investment in autos manufacturing in the MENA region as the US withdrawal from the nuclear agreement with Iran forces foreign companies to rethink their strategy in the country. The recovery of Egypt's autos sector will continue to feature heavily in this North African growth story. In our regular round-up of production investments, we track the latest projects from the production side of the industry and analyse regional trends that we see developing. In doing so, we hope to build a picture of any potential hubs that may be developing, as well as company strategy in terms of production bases and export programmes.

The blockchain technology is expected to disrupt the automotive value chain in the near future. The magnitude of its impact might vary from stake holders to stake holders, but it surely encompasses the whole value chain. This section of the research study throws light on the push and the pull forces operating in the automotive blockchain market. It further studies the impact of these forces on the market growth.

North Africa will be the key beneficiary of investment in autos manufacturing in the MENA region as the US withdrawal from the nuclear agreement with Iran forces foreign companies to rethink their strategy in the country. The recovery of Egypt's autos sector will continue to feature heavily in this North African growth story. In our regular round-up of production investments, we track the latest projects from the production side of the industry and analyse regional trends that we see developing. In doing so, we hope to build a picture of any potential hubs that may be developing, as well as company strategy in terms of production bases and export programmes.

新能源车电池热管理系统技术趋势。新能源车动力电池热管理技术主要包括风冷、液冷及相变材料冷却（直冷）等，液冷技术在国外量产新能源汽车中应用成熟。国内新能源车中风冷和液冷技术并存， 在动力电池能量密度持续提升的趋势下，风冷难以满足精密的温控要求。随着技术迭代带来的成本降低，预计液冷将成为未来国内多数主机厂新能源车采用的动力总成系统热管理方式。

PLC是控制工业生产系统的“大脑”，PLC的出现取代了之前控制大功率设备的继电器，能够起到节省空间，降低电量消耗，减少设备维护工作量的作用。程序简洁性及对应用场景的理解是PLC核心制造难点。一方面伴随消费升级趋势日益明显，生产难度和制造水平都相应增加，底层控制系统需要处理的数据规模愈加庞大，对PLC硬件背后的算法提出了较高的要求，同时对配套编程软件设计的简洁性要求也更高；另外，PLC制造的难点在于对下游具体应用场景下工程师操作习惯的理解。由于PLC需要对不同应用环境做相应调整，因此供应商想要开拓新行业难度较高，但同时客户粘性也会较强。

8 月新能源乘用车销量环比增长 20%，A0 和 A 级在纯电动乘用车占比达到60%，新能源汽车确定进入消费时代。金九银十旺季到来，中游排产保持高景气，板块进入中长期投资布局时点，但是短期行情或受补贴政策扰动。展望十月及未来，新能源汽车产销量增长确定无疑，但是产业链面临价格持续下跌风险，行业优胜劣汰加剧，建议配置各行业龙头企业。

8 月 Wind 汽车及零部件指数整体下跌 8.6%，跑输沪深 300 指数 3.4 个百分点。SW 汽车整车指数下跌 7.2%，其中，SW 商用载客车指数下跌 9.9%， SW 乘用车指数下跌 6.9%， SW 商用载货车指数下跌 5.7%。SW 汽车零部件Ⅲ指数下跌 9.5%，SW 汽车销售指数下跌 5.3%。 

今年 3 月市场主流观点认为乘用车需求超预期的好，而我们认为未超预期，今年需求将弱于去年，且季度增速差异较大、呈现高开低走的趋势，最近几个月的批发和终端销量增速验证了我们的观点。在目前这个时间窗口判断乘用车处于本轮周期的什么位置、何时介入是比较有意义的问题。 

我们选取申万汽车行业指数，2018年上半年汽车行业 179 家上市公司实现营业收入合计 13132.24 亿元，同比+12.2%；归属于上市公司股东净利润合计 621.37 亿元，同比+4.8%；扣非后归属于上市公司股东净利润合计 506.12 亿元，同比-2.1%。汽车行业营收与利润增速显著放缓，相较去年同期分别下降 4.7 和 5.6 个百分点；与前年 2016H1 行业收入增速相比基本持平，但是净利润增速下滑明显（2016H1 利润增速为 14.9%），在整体车市景气度下降的背景下，行业盈利面临着较大的压力。

当新能源汽车跟传统汽车演变为两种不同技术路径时，技术路线的差异使产业链发生截然不同的变化，产业链的变化又使得价值链发生潜移默化的转移。新能源汽车在传统汽车的基础上进行延伸，增加了电池、电机、电控三大核心部件，当“三电”为代表的动力系统逐渐代替传统汽车动力系统后，汽车的产业价值链开始朝着“三电”转移。同时，动力系统引起的变革也将带动其它部件朝着电动化方向发展。 

汽车已成为锂电池最大的市场，但仍处在萌芽期。随着新能源汽车2014年以来的销量提升，动力电芯已经超越3C电芯和储能电芯，成为锂电池的最广应用场景。

8月，新能源汽车产销量同比保持稳定增长，销量环比转正、产量环比增幅扩大根据中汽协数据，2018年8月新能源汽车产销量分别为9.9万辆和10.1万辆，同比增长39.0%、49.5%，环比分别增长9.9%，20.9%，销量扭转7月负环比增速、实现较高增长，产量环比增幅较上月扩大。•1-8月，新能源汽车累计产销量保持高增速2018年1-8月，新能源汽车累计产销量分别为60.7万辆和60.1万辆，较2017年1-8月累计产销量分别增长75.4%和88.0%。

2009年电动汽车电池组成本中原材料占比44%，包括12%活性材料，32%采购部件（资料来源：波士顿咨询）；2015年电动车电池组成本中原材料成本占比上升至63%（资料来源：罗兰贝格咨询）；随着非材料成本的下降，到2020年，预计原材料成本飙升至近80%，这将极大提升存量电池市场的潜在价值，激发废旧动力电池资源化回收产业（资料来源美国阿贡国家实验室） 。

汽车销量 8 月回落，1~8 月增幅收窄。2018 年 8 月汽车销量 210 万辆，同比下降 3.8%，1~8月汽车累计销量1809.6 万辆，同比累计增长 3.5%， 8 月汽车市场表现低迷，下半年市场压力可能持续加大。

2015年11月，发改委等四部委联合出台《电动汽车充电基础设施发展指南（2015-2020年）》：首次对不同类型的充换电站明确了建设指标：区分了公交车/出租车/环卫物流专用车/公共充电站/城际快充站，区分了内部停车场/写字楼、路边停车场。建设责任主体主要为地方政府和电网企业。众筹共建模式加快建设进度。首次对国内不同省份的电动汽车发展目标进行分解：区分加快发展地区、示范推广地区和积极促进地区，明确了2020年之前形成“四纵四横”（四纵：沈海、京沪、京台、京港澳,四横：青银、连霍、沪蓉、沪昆）城际快充网络。