Core Insights - The French lubricant company Motul has launched a new hybrid-specific automotive lubricant product, marking its second significant product release in nearly a decade, coinciding with the FIA F4 Championship in Shanghai [1] - The growth of hybrid vehicle demand in China is projected to increase by 65% year-on-year in 2024, indicating a substantial market opportunity for lubricant companies [1][2] - The penetration rate of new energy vehicles (NEVs) in China has surpassed 50%, with retail and wholesale sales reaching 51.5% and 51.7% respectively by April 2025 [2] Market Demand and Trends - The demand for hybrid vehicles has seen a significant shift, with the management of Motul recognizing that the market conditions have changed dramatically since 2023, prompting the need for new product development [2][3] - A survey indicated that over 60% of users consider the environmental and sustainable aspects of lubricant products to be very important, with 34% willing to pay more for eco-friendly products [3] Competitive Landscape - The passenger car lubricant market in China is relatively stable and concentrated, with the top five companies holding over 70% of the market share, including major players like Castrol, ExxonMobil, and Shell [5] - Motul aims to differentiate itself in the market by focusing on niche products and avoiding blind expansion, emphasizing the importance of product performance validated through motorsport applications [5] R&D and Local Market Focus - The company plans to increase its R&D investment in China, recognizing the unique market dynamics and the need to adapt to local demands to stay competitive [6] - The Chinese market is viewed as a strong and unique segment in the global automotive lubricant industry, with the highest penetration rate of NEVs and a complete supply chain [6]