Core Viewpoint - The article discusses the rapid growth of the new energy vehicle (NEV) after-sales maintenance market in China, particularly as more vehicles exceed their warranty periods, leading to increased demand for maintenance services [5][11][20]. Group 1: Market Growth and Trends - As of the end of 2024, the number of NEVs in China is projected to reach 31.4 million, with a significant increase in sales from 55,000 units in 2017 to 1.074 million units in 2024 [5][6]. - The after-sales maintenance market for NEVs is expected to reach 300 billion yuan by 2025, with over 15% of this market attributed to the maintenance of the three core components (battery, motor, and electronic control) [5][8]. Group 2: Supply and Demand Imbalance - There is a significant supply-demand imbalance in the NEV maintenance market, with approximately 40,000 fuel vehicle maintenance enterprises compared to only 20,000 to 30,000 NEV maintenance enterprises [8]. - Only 2% of surveyed repair shops possess the capability to maintain the three core components, indicating a severe skills gap in the industry [8][11]. Group 3: Cost Dynamics - The cost of battery replacement for NEVs can exceed the vehicle's residual value, discouraging many owners from opting for battery replacement [11]. - The average cost of a battery pack can account for 30% to 70% of the vehicle's total cost, with an average ratio of 50.96% for NEV battery packs compared to the vehicle's overall value [11][12]. Group 4: Competitive Landscape - Four main factions are competing for dominance in the NEV maintenance market: original equipment manufacturers (OEMs), battery manufacturers, independent third-party service providers, and insurance companies [13][14]. - OEMs like BYD and Tesla are establishing closed-loop systems for battery maintenance, while battery manufacturers like CATL are expanding their service networks [14][15]. - Independent third-party providers are emerging but face challenges related to qualifications and technical capabilities [15][16]. Group 5: Regulatory and Policy Environment - Recent regulatory efforts aim to lower maintenance costs and enhance the supply of NEV parts, encouraging collaboration between vehicle manufacturers and battery companies [20]. - The article highlights concerns regarding the monopolistic practices of OEMs that restrict consumer choice in repair options, which may violate anti-monopoly laws [20].

Core Insights - The after-sales maintenance market for new energy vehicles in China is projected to reach 300 billion yuan by 2025, with the maintenance of the "three electric" systems (battery, motor, and electronic control) accounting for over 15%, approximately 45 billion yuan [2] - The number of vehicles with expired warranties for the "three electric" systems is expected to surge, with nearly 20 million power batteries reaching warranty expiration in the next eight years [2] - There is a significant talent gap in the new energy vehicle after-sales service sector, with an estimated shortage of 824,000 professionals by 2025, while currently, there are fewer than 100,000 technicians with qualifications for "three electric" maintenance [2] Industry Actions - Battery manufacturers, such as CATL, are expanding their services from B-end supply chains to C-end services, launching repair chains like "Ningjia Service" to address technical challenges in battery maintenance [2] - Automakers like Tesla and Li Auto are providing services through direct mechanical and electrical repair centers, while BYD has established a closed-loop independent maintenance system for "three electric" components [3] - Insurance companies are also developing or leading repair networks, such as the "Zhongbao Zhixiu" chain by China Pacific Insurance, which offers comprehensive services including "three electric" repairs [3] Challenges in the Market - The development of the after-sales market for new energy vehicles faces challenges, including the complexity of technology and parts, which makes it difficult for third-party repair shops to provide maintenance [4] - After-sales service providers may refuse warranty services if they find non-official maintenance records, limiting consumer choice [4] - There is currently no unified assessment standard for "three electric" systems, leading to high repair costs determined solely by brand owners [4] Future Outlook - The maintenance market for "three electric" systems is expected to experience unprecedented growth opportunities alongside challenges as the number of new energy vehicles continues to rise and more vehicles go out of warranty [5] - This presents a new blue ocean for industry players, offering vast business opportunities, while consumers hope to alleviate issues related to high repair costs and difficulties in finding service [5]