134th Canton Fair: Overseas Buyers Return in Both Quantity and Quality, Significant Upsurge in Electric Two-Wheeler Exhibitors
From October 15-19, the first phase of the 134th Canton Fair was held at the Pazhou Complex in Guangzhou. A few days ago, we focused our coverage on motorcycle exhibitors at this event. In this article, we will share our views on the electric vehicle exhibitors and the situation of overseas buyers.
Diverse Range of Electric Vehicles, Notable Increase in Exhibitor Scale
In our previous article, we mentioned that this year’s Canton Fair underwent a significant adjustment in the layout of two-wheeler halls compared to previous fairs. From the earlier Hall 13.1 and 12.1 in Area B, it was changed to Hall 15.1, 14.1, and 16.2 in Area C. Motorcycle businesses primarily occupied Halls 15.1 and 14.1, while bicycle and electric bicycle enterprises were mainly situated in Hall 16.2. Some top electric vehicle brands, such as the leading exporter YADEA, were located at the main entrance of Hall 14.1. Brands like AIMA and LVNENG, which previously might not even have had exhibition spots, were also present in these two halls.
We broadly categorize the electric vehicle exhibitors at the Canton Fair into four types:
- Electric sub-brands or electric products derived from motorcycle enterprises. Nearly every motorcycle company mentioned in the previous article showcased their electric two-wheelers. However, as for their export volumes, we’ll leave that question open for now.
- Traditional domestic electric vehicle brands such as YADEA, AIMA, TAILG, and SUNRA. Currently, only YADEA has established its brand marketing network globally, and its worldwide presence is rapidly expanding.
- Electric assistive vehicle businesses like JOBO, JSL, BOCHUANG, KEDIFEI, PINXIANG, and electric skateboard companies like DECE and SUN·COLOR. These companies have been deeply rooted in overseas markets for many years, with their products receiving great appreciation from foreign customers.
- Electric off-road vehicle brands influenced by SURRON, such as ARCTIC and RFN.
It’s evident that the scale of electric vehicle exhibitors this year surpassed that of previous Canton Fairs.
Overseas Buyers Return in Both Quantity and Quality , Seizing the “Belt and Road” Initiative Opportunity to Expand Abroad
Regarding overseas buyers, statistics from the organizing committee of the 134th Canton Fair indicate that by October 19, over 100,000 foreign buyers from 210 countries and regions had attended. This figure represents a significant increase compared to the same period during the 133rd Canton Fair. Of these attendees, nearly 70,000 buyers were from countries involved in the “Belt and Road” initiative, marking a 65.2% increase from the previous fair.
With the global emphasis on dual carbon targets becoming increasingly clear, nations frequently introduce new energy policies, propelling the rapid development of the new energy industry. As pointed out in Briefing No. 661 by the Observer Research Foundation: In Europe, by 2030, the electric skateboard market is expected to surpass USD 60 billion, more than doubling from 2022. In the US, electric bicycle sales in 2022 exceeded those of four-wheeled electric vehicles, and the industry’s annual electric bicycle sales are projected to cross the 1 million mark next year. In Asia, Indonesia reported sales of 5 million traditional two-wheelers in 2022. In India, from 2021 to 2023, registrations in the two-wheeled electric vehicle market tripled, reaching approximately 670,000. As the world’s largest manufacturer and exporter of electric two-wheelers, China’s globally leading comprehensive and mature industrial chain, combined with its innovative high-quality electric vehicle products, are significant reasons why international buyers travel great distances to seek collaboration with Chinese manufacturers.
In the post-pandemic era, the intricate international landscape and the reshuffling of the global framework have furnished Chinese electric motorcycle products with novel opportunities for global expansion. At this edition of the Canton Fair, through our interactions and exchanges with a multitude of international buyers, we discerned a significant number of new faces keenly seeking collaborations with Chinese electric motorcycle manufacturers. Seizing the moment under the auspices of the “Belt and Road” initiative, there is a proactive push towards hastening the overseas expansion. We are confident that in the near future, we will witness a transformation of Chinese-made electric motorcycles from merely selling globally to firmly establishing roots worldwide.