A recent press conference of the new energy vehicle BYD (002594) has attracted the attention of many investors and successfully entered the market for a product. Yes, it is our protagonist today - the wheel motor.

The wheel motors are used in two new cars, both of which are high-end models (energy off-road + pure electric supercar), and the price is in the million level. It is another breakthrough for domestic players, and there is a kind of "good horse" With a good saddle" feeling.

So what is this mysterious wheel motor? It turns out that it integrates the "power, transmission, and braking" systems of the car into a set of motors, which are directly installed on the side of the wheel to drive the wheel alone. BYD is equipped with four-wheel independent wheel motors in each car, and calls it "Easy Square" technology, which means that it can output through four wheels and four motors, without relying on the steering mechanism to turn, and can truly realize 360 degrees in situ rotate.

New directions are sought after

Opening a trillion new track for wheel motors

1. BYD's wheel-side motor technology ranks first in the world in the industry. This is actually a permanent magnet synchronous motor with a special structure . This technology can improve the convenience of operation. For example, when parking on the side, the four wheel motors drive the wheels independently, so that the car can walk sideways, just like a crab. In addition, the wheels can also rotate 360 degrees continuously on the spot. Does it feel very sci-fi?

2. Assuming that 10 million new energy vehicles are sold in the world a year, one wheel motor is 5,000 yuan, and a new energy vehicle with 4 wheel motors is 20,000 yuan per car. At the beginning, the wheel motor is 10% infiltrated rate, then the wheel motor is 1 million vehicles multiplied by 20,000, which is a market . After the wheel motor was born, it also caused an earthquake in the capital market.

Tongda Power (002576) is currently the most well-known supplier of BYD motor stator core in the market

Fangzheng Motor (002196) subsidiary such as Devos has signed a strategic cooperation agreement and a technical cooperation agreement with Yutong Bus, a leading enterprise in the domestic bus industry, on new energy vehicle wheel motors. The two parties jointly develop and cooperate on new energy vehicle wheel motors to promote wheel The industrialization of the side system is currently in the process of smooth progress and is in the road test stage

The high-power-density wheel drive motor, integrated electric wheel and all-in-one distributed drive controller independently developed by Jiaoke Energy, a subsidiary of JSTI (300284), have formed a series of products . It has been installed on special vehicles, and some models have passed the type test and have been mass-produced.

Tongda Electric (603390) owns the patent of wheel motor technology.

Wolong Electric Drive (600580) is developing a wheel motor for ZF.

New energy vehicle motors, the growth rate is considerable

First of all, the author will take you to separate from the segmented market of wheel motors, and give an overview of the development of new energy vehicle motors.

As one of the three core elements of new energy vehicles, the motor is one of the core components that determine the power performance of new energy vehicles, usually including rotors, stators, wiring harnesses, etc., and the stator is the part with the highest cost (close to 20%).

At present, the most commonly used motor for new energy vehicles is the permanent magnet synchronous motor, which accounts for as much as 95% of the vehicle load. Needless to say, its advantages are high power density, high operating efficiency, and simple and compact structure. important factor in dominance.

In the permanent magnet synchronous motor market, after years of development, the concentration is relatively high. The combined market share of the top two players (BYD and Tesla) has reached 30%, and the combined market share of the top five players is close to half. Apart from Tesla, BYD is the big brother in the motor industry, and no player can shake it, so it is not unreasonable for it to dare to invest more energy in the wheel motor.

If you want to succeed in a market, first of all, the market must be attractive enough. Don’t struggle too much in a sunset industry. Choice is more important than hard work. In the future new energy vehicle motor market, on the one hand, it is expected that the penetration rate of dual-motor models will continue to increase; on the other hand, the accelerated penetration of new energy vehicles will become the general trend. In summary, the market size of the motor market is expected to reach 40 billion yuan in three years, an increase of about 15 billion yuan compared to last year.

Good market + top players are proficient in driving with innovation, and the wheel motor was born in this way.