2010 Deep Research Report on China New Energy Vehicles

2010 Deep Research Report on China New Energy Vehicles

2010 Deep Research Report on China New Energy Vehicles Hard copy price: USD 2500 PDF copy price: USD 2500 Enterprise wide price: USD 3500 Pages: 216 Tables and figures: 222 Published date: Apr 6,2010 Publisher: QY Research Group Contact: Mr Zhang Dong 8610­82945717 86­13811796901 sales@qyresearch.com

Summary With the increasingly harsh climate and environment, words, such as environmental protection, low­carbon, energy­saving, emission­reduction and green, are gradually penetrated into the daily life. Automobile, as the main source of city exhausts, has gained particular concern in the issue of emission reduction. Therefore, new energy vehicles become extremely popular. For instance, electric bicycles, electric tricycles and motorcycle, which can be seen everywhere in China, have gradually been accepted and popular. Thus, electric vehicles will soon become the energy­saving environmental automotive products. Besides the battery­powered, the fuel gas, hydrogen and other clean energy, all have the application case. However, there is still a long way before the massive popularity. With the increasing attentions and supports from the Government, big investments from investors and strong will of the emission reduction from the public, new energy vehicles have made rapid development. Up to March, 2010, the electric or gas passenger car, have been widely applied in the public transports. Automotive manufacturer, BYD has developed a variety of electric cars by means of its own technology in the battery field, and will soon begin to sell new energy vehicles to individual consumers. There are many indications shows that the new energy vehicles have gradually been the spotlight. The large­scale production will greatly reduce the production cost, thus making the new energy vehicles become the highly popular product and occupy a larger portion in the automotive market.

“2010 Deep Research Report on China New Energy Vehicles” is a professional and comprehensive study report on the new energy automotive. First, it will introduce the new classification and definition of energy vehicles, and the development status of various types of new energy vehicles.

Then, it will provide a detailed description on the new energy policy and state­sponsored development projects. After that, production, sales, technical characteristics and development trends of new energy vehicles in China and the world. And then, it will highlight the major new energy automobile companies in the global and China, such as, production capacity of enterprises, models, prices, costs, profits, margins and other parameters. Meanwhile, it will provide the development plans and research status of new energy automobile manufacturers. Finally, it will QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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give a detailed analysis on the development background, investment opportunity and risks of new energy automotive, thus providing professional research conclusions and recommendations.

Overall, this study can make the clients well informed of real­time status and trends of new energy automotive industry. The interpretations of policies and consumer surveys can provide suggestions on the demands and trends of new energy automotive industry. This report will help the clients conduct the development plans and provide as a reference in the investment and decision making.

It can not be completed without the supports and assistance from many first­line technical personnel and senior experts in the relevant agencies and departments. Here we want to express our gratitude.

Table of Content: Chapter 1 Definition and Classification of New Energy Vehicles 1 1.1 The definition of new energy vehicles 1 1.2 Category overview of new energy vehicles 2 1.2.1 Hybrid engine vehicles (HEV) 2 1.2.1.1 Introduction 2 1.2.1.2 Development status 2 1.2.2 Battery electric vehicles (BEV) 2 1.2.2.1 Introduction 2 1.2.2.2 Development status 2 1.2.3 Fuel cell engine vehicles (FCEV) 3 1.2.3.1 Introduction 3 1.2.3.2 Development status 3 1.2.4 Hydrogen engine vehicles 3 1.2.4.1 Introduction 3 1.2.4.2 Development status 3 1.2.5 Gas vehicles 4 1.2.5.1 Introduction 4 1.2.5.2 Development status 4 1.2.6 Alcohol or ether vehicles 4 1.2.6.1 Introduction 4 1.2.6.2 Development status 4 Chapter 2 Development status and prospects of new energy vehicles 5 2.1 Background and development goals 5 2.1.1 Vehicles background in China 5 2.1.2 Vehicles situation analysis in China 6 2.2 Development goals of energy­saving and new energy vehicles 10 2.2.1 Development status of new energy vehicles 11 12 2.2.2 Technical objectives 12 2.2.3 Energy­saving goals 13 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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2.2.4 New energy goals 14 2.3 New energy vehicles market in the world 15 2.3.1 Market situation of new energy vehicles in China 17 2.3.2 Future development trends and bottlenecks of new energy vehicles 18 2.3.3 Technology evolution of new energy vehicles in China 21 2.3.4 Investment recommendations 23 Chapter 3 Major manufacturers for new energy vehicles 25 3.1 Main manufacturers for new energy vehicles in China 25 3.1.1 Chery 25 3.1.2 SAIC 29 3.1.3 Kinglong 34 3.1.4 Zotye 40 3.1.5 BYD 45 3.1.6 FAW 50 3.1.7 Chongqing Changan 55 3.1.8 Geely 60 3.1.9 Universal 64 3.1.10 Foton Auto 67 3.1.11 Dongfeng 72 3.1.12 Zhongtong buses 76 3.1.13 Great Wall 80 3.1.14 Ankai buses 85 3.1.15 Yi Mao (under construction) 89 3.2 Main international vehicles manufacturers 91 3.2.1 Main manufacturers for new energy vehicles in the United States 91 3.2.1.1 General 93 3.2.1.2 Ford 94 3.2.2 Main manufacturers for new energy vehicles in Europe 97 3.2.2.1 Volkswagen 97 3.2.2.2 BMW 99 3.2.2.3 Daimler ­ Benz 100 3.2.3 Main manufacturers for new energy vehicles in Japan 102 3.2.3.1 Honda 103 3.2.3.2 Toyota 106 Chapter 4 Batteries analysis of new energy vehicles 108 4.1 Investment analysis of Ni­MH battery 109 4.1.1 Development overview 109 4.1.2 Major manufacturers Analysis 110 4.1.3 Prospects 110 4.2 Investment Analysis on lithium battery 111 4.2.1 Development status 111 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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4.2.2 Industry chain analysis 113 4.2.2.1 Manufacturers 113 4.2.2.2 Cell materials 115 4.2.2.3 Analysis of lithium carbonate industry 116 4.2.2.4 Prospects of Lithium Carbonate Industry 117 4.3 Investment analysis on vehicle battery 118 Chapter 5 Product development and prospects of new energy vehicles 123 5.1 Hybrid electric vehicles (HEV) 123 5.1.1 Introduction 123 5.1.2 Development status of international hybrid electric vehicles (HEV) 127 5.1.3 Development status of domestic hybrid electric vehicles 129 5.1.4 Prospects forecast 129 5.1.5 Investment advice 130 5.2 Battery Electric Vehicles (BEV) 131 5.2.1 Introduction 131 5.2.2 Development status of international battery electric vehicles (BEV) 131 5.2.3 Development status of domestic battery electric vehicles (BEV) 133 5.2.4 Prospects forecast 134 5.2.5 Investment background and advantages 134 5.2.6 National Electric Vehicles (BEV) 135 long­term objectives 5.3 Natural gas vehicles 135 5.3.1 Development status of international natural gas vehicles 135 5.3.2 Development status of domestic natural gas vehicles 137 5.3.3 Prospects forecast 148 5.3.4 Investment background 151 5.4 DME Auto 151 5.4.1 Introduction 151 5.4.2 Policy 152 5.4.3 Fuel production 153 5.4.4 Fuel vehicle technologies 154 5.4.5 Research and development 155 5.4.6 Investment background 159 5.4.7 Investment advice 159 Chapter 6 Investment opportunities and risk analysis on the new energy vehicles 160 6.1 Analysis of investment opportunities 160 6.1.1 investment base and features in 2009 160 6.1.2 Concern analysis of consumers 161 6.2 Key points analysis on investment 162 6.3 Technical line analysis 164 6.3.1 PHEV technical Analysis 164 6.4 Development trends of new energy vehicles in China 171 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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6.5 Background analysis 177 6.5.1 Development status 177 6.5.2 Technical analysis of hybrid electric vehicles 185 6.5.3 Energy­saving and economic analysis of hybrid electric vehicles 187 6.5.4 Raw materials demand in the upstream 190 6.6 Risk analysis 192 Chapter 7 Research summary of new energy vehicles 193 Appendix the relevant policies and analysis of new energy vehicles 194 Industry policy of new energy vehicles 194 Production access rules of new energy vehicles 194 Financial subsidies 194 Tax Policy 196 Restructuring and rejuvenation program of Automotive industry 196 Production access rules of new energy vehicles 198 Interim measures for financial subsides in the energy saving and new energy vehicles demonstration and extension 203

Tables and Figures: Table definition and classification of new energy vehicles 1 Figure Vehicle volume and growth rate of China from 2000 to 2009 5 Figure Vehicle sales and growth of China from 2000 to 2009 6 Figure Ratios of three major components in the total imported auto parts in China from 2001 to 2009 6 Figure Dependence trends of foreign oil 7 Figure Consumption ratio of gasoline and diesel in China 7 Figure Potential analysis of auto industry in China 8 Figure Industrial Revolution in the energy­saving and new energy vehicles 9 Figure Development strategy target of automotive energy power system 10 Table Production capacity and forecast of new energy vehicles in China from 2009 to 2014 (10K unit) 11 Figure Production capacity, forecast and growth rate of new energy vehicles in China from 2009 to 2014 (10K unit) 11 Figure Power technology evolution scheme of new energy vehicles in China 12 Figure Technology platform diagram of power systems in the energy saving and new energy 12 Figure Energy­saving goal scheme in China in 2020 13 Figure Conversion scheme of new energy 14 Figure Integrated development target in the energy­saving and new energy vehicles of China 14 Figure Sales of hybrid engine vehicles from USA, Japan, United Kingdom, Netherlands, France and Germany from 2004 to 2009 (10K unit) 15 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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Figure Global sales of hybrid engine vehicles of GM, Ford, Nissan, Honda, Toyota from 2005 to 2009 (10K unit) 16 Figure Global sales of 7 hybrid engine vehicles, Priusl1.5L Camry2.4L, Civic1.3L and so on from 2005 to 2009 (10K unit) 16 Table List of auto type and marketed time for the new energy passenger cars of China from 2005 to 2008 17 Table List of auto type and marketed time for 10 electric buses and 31 hybrid passenger vehicle of China from 2006 to 2009 17 Figure Future evolution path for new energy vehicles 19 Figure Advantages, disadvantages and application prospects of fuel cell vehicles 19 Figure Battery performance and features of new energy vehicles 20 Chart of different types of fuel­efficient hybrid effects and the advantages and disadvantages 20 Figure Emissions and price of 8 hybrid engine vehicles (10K RMB) 21 Figure Evolution sketch of automotive technology evolution sketch in the world 22 Figure V development model of control system (development direction of system technology) 22 Figure Development process diagram of automotive technology in China 23 Figure "1000 for 10 Cities " demonstration projects and corresponding business opportunities 24 Figure Progress summary of 8 major automotive manufacturers 24 Table List of information on Chery Automobile Co., Ltd. (products, market position, production capacity, business strategy, plans an expansion plans) 25 Figure New energy development for Chery 26 Table Development process sketch of new energy vehicles for Chery 26 Figure Development plan scheme of hybrid engine vehicles for Chery 27 Table Development process of hybrid engine vehicles for Chery 27 Table List of models, sales (unit), price (10K unit) of hybrid engine vehicles for Chery 28 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Chery from 2009 to 2014 28 Figure Production capacity, production (units) and growth rate of new energy vehicles for Chery from 2009 to 2014 29 Table Shanghai Automotive Industry Corporation (SAIC) information list (product, income, sales, 14 new energy strategies) 29 Table List of predictions on the production capacity, production (unit) of new energy vehicles for SAIC from 2009 to 2014 32 Figure Production capacity, production (unit) and growth rate of new energy vehicles for SAIC from 2009 to 2014 32 Figure Sales forecast (unit) and growth rate of new energy vehicles for SAIC from 2009 to 2014 33 Table List on sales predictions (unit), price (10K RMB/unit), production costs (10K RMB), income (10K RMB), profit margin and other information on the SAIC LaCross from 2009 to 2014 33 Figure Sales forecast (unit) and growth rate of new energy vehicles for LaCross from 2009 to 2014 34 Table Kinglong Bus List (11 contents: products, production capacity, income, new energy QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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research and so on) 35 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Kinglong passenger cars from 2009 to 2014 37 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Kinglong passenger cars from 2009 to 2014 38 Table List on production capacity, utilization rate(unit) and sales of new energy vehicles for Kinglong passenger cars from 2009 to 2014 38 Table List on the sales production (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Kinglong natural gas buses from 2009 to 2014 38 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Kinglong natural gas buses from 2009 to 2014 39 Table List on the sales production (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Kinglong natural gas passenger cars from 2009 to 2014 40 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Kinglong natural gas passenger cars from 2009 to 2014 40 Table Zotye information List (13 contents: products, income, raw materials and equipments, clients and expansion plans and so on) 41 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Zoyte from 2009 to 2014 42 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Zoyte from 2009 to 2014 43 Table List on the sales production (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Zoyte 2008EV from 2009 to 2014 44 Figure List on sales production (unit) and growth rate of Zoyte 2008EV from 2009 to 2014 44 Table BYD information List (12 contents: assets, sales capacity, new energy strategies and expansion plans and so on) 45 Table List of predictions on the production capacity, production (unit) of new energy vehicles for BYD from 2009 to 2014 46 Figure Production capacity, production (unit) and growth rate of new energy vehicles for BYD from 2009 to 2014 47 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of BYD F3DM from 2009 to 2014 48 Figure List on sales prices (10K RMB/unit) , costs(10K RMB/unit) and margin rate of BYD F3DM from 2009 to 2014 48 Table FAW information List (13 contents: assets, sales capacity, new energy strategies and expansion plans and so on) 50 Table List of predictions on the production capacity, production (unit) of new energy vehicles for FAW from 2009 to 2014 51 Figure Production capacity, production (unit) and growth rate of new energy vehicles for FAW from 2009 to 2014 51 Figure Production capacity, production (unit) and growth rate of hybrid energy buses for FAW QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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from 2009 to 2014 52 Figure Production capacity, production (unit) and growth rate of hybrid energy cars for FAW from 2009 to 2014 52 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of FAW Jiefang hybrid engine buses from 2009 to 2014 53 Figure List on sales capacity (unit) and growth rate of FAW Jiefang hybrid engine buses from 2009 to 2014 53 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of FAW Benteng hybrid engine cars from 2009 to 2014 54 Figure List on sales capacity (unit) and growth rate of FAW Benteng hybrid engine cars from 2009 to 2014 54 Table Chongqing Changan information List (13 contents: assets, sales capacity, special service, new energy strategies and expansion plans and so on) 55 Figure Company texture of Chongqing Changan Co., Ltd. 56 Table Development progress scheme for the new energy vehicles for Chongqing Changan 56 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Chongqing Changan from 2009 to 2014 57 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Chongqing Changan from 2009 to 2014 57 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Chongqing Changan Jiexun hybrid engine cars from 2009 to 2014 58 Figure List on sales capacity (unit) and growth rate of Chongqing Changan Jiexun hybrid engine cars from 2009 to 2014 59 Table Geely information List (13 contents: products, assets, market position, company texture, production base and production capacity and so on) 60 Figure “10­1­5” development strategy for Geely auto industry 61 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Geely from 2009 to 2014 62 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Geely from 2009 to 2014 62 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Geely Yuanjing CNG fuel gas engine cars from 2009 to 2014 63 Figure List on sales capacity (unit) and growth rate of Geely Yuanjing CNG fuel gas engine cars from 2009 to 2014 63 Table Universal information List (12 contents: products, assets, market position, new energy development, clients and development strategy and so on) 64 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Universal from 2009 to 2014 65 Figure Production capacity, production (unit) and growth rate of new energy vehicles for QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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Universal from 2009 to 2014 65 Table List on the production capacity, utilization rate and sales capacity (unit)of new energy vehicles for Universal from 2009 to 2014 65 Table List of predictions on the production capacity, production (unit) of electric vehicles for Universal from 2009 to 2014 66 Figure Production capacity, production (unit) and growth rate of electric vehicles for Universal from 2009 to 2014 67 Table Foton Auto information List (14 contents: products, revenue, sales capacity, new energy strategy and development plans and so on) 69 Table List on the development of new energy vehicles (hybrid engine vehicles) for Foton Auto 70 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Foton Auto from 2009 to 2014 70 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Foton Auto from 2009 to 2014 70 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Foton Auto hybrid engine cars from 2009 to 2014 70 Figure List on sales capacity (unit) and growth rate of Foton Auto hybrid engine cars from 2009 to 2014 71 Table Dongfeng information List (12 contents: products, revenue, new energy development, market position and development strategies and so on) 72 Table List on the development of new energy vehicles for Dongfeng 73 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Dongfeng from 2009 to 2014 74 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Dongfeng from 2009 to 2014 74 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of Dongfeng hybrid engine passenger cars from 2009 to 2014 75 Figure List on sales capacity (unit) and growth rate of Dongfeng hybrid engine passenger cars from 2009 to 2014 75 Table Zhongtong Buses information List (12 contents: products, assets, new energy development, market position and development strategies and so on) 76 Table List on the development of new energy buses for Zhongtong 77 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Zhongtong from 2009 to 2014 78 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Zhongtong from 2009 to 2014 78 Table Production capacity, production (unit) of new energy fuel gas buses for Zhongtong LCK6125GC from 2009 to 2014 79 Table Production capacity, production (unit) and growth rate of new energy fuel gas buses for Zhongtong LCK6125GC from 2009 to 2014 79 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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revenue (10KRMB) and profit margin information of new energy fuel gas buses for Zhongtong LCK6125GC from 2009 to 2014 79 Figure List on sales capacity (unit) and growth rate of new energy fuel gas buses for Zhongtong LCK6125GC from 2009 to 2014 80 Table Great wall Auto information List (13 contents: products, assets, new energy development, markets and development strategies and so on) 81 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Great wall Auto from 2009 to 2014 82 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Great wall Auto from 2009 to 2014 82 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Great wall EV from 2009 to 2014 83 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Great wall EV from 2009 to 2014 84 Table Ankai Buses information List (13 contents: products, revenue, margin, production capacity, new energy vehicles and development strategies and so on) 85 Table List on the development of new energy buses for Ankai 86 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Ankai from 2009 to 2014 86 Figure Production capacity, production (unit) and growth rate of new energy vehicles for Ankai from 2009 to 2014 87 Table List of predictions on the production capacity, production (unit) of new energy vehicles for Ankai from 2009 to 2014 87 Table List on the sales capacity (unit), sales price (10K RMB/unit), costs (10K RMB/unit), revenue (10KRMB) and profit margin information of new energy buses for Ankai from 2009 to 2014 88 Figure List on sales capacity (unit) and growth rate of new energy buses for Ankai from 2009 to 2014 88 Table Yimao electrical vehicles information List (10 contents: input, products and new energy vehicles and so on) 89 Table List of predictions on the production capacity, production (unit) for Yimao electrical vehicles from 2009 to 2014 90 Figure Production capacity, production (unit) and growth rate for Yimao electrical vehicles from 2009 to 2014 90 Table New energy policies and subsides in Europe and the United States 91 Figure Sales capacity of American hybrid engine vehicles E85 and CNG electrical LPG LNG hydrogen and other new energy vehicles from 2000 to 2009 (10K unit) 92 Figure Fuel ethanol consumption in the U.S.A from 1981 to 2007 (million gallons/unit) 92 Figure Sales capacity and market share of Western Europe and diesel passenger car from 1990 to 2008 (one million/unit) 97 Figure New energy vehicles amount of Japan hybrid engine vehicles, gas, LPG, electrical vehicles and methanol vehicles from 1999 to 2009 (10K unit) 103 Table Technical data for Honda CIVIC HYBRID 105 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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Table Technical data for Toyota Prius 107 Table 10 new listed of energy vehicles and battery type from 2008 to 2014 in the global 108 Figure Development trend of China 6­6.5Ah HEV NiMH batteries 109 Figure Costs comparison between lithium nickel­hydrogen batteries and lithium batteries cost from 2000 to 2020 (euro / kWh) 110 Figure Comparison on the energy density, power density and cycle life between domestic EV lithium­ion battery and foreign products 112 Figure Comparison on the energy density, power density and cycle life between domestic HEV lithium­ion battery and foreign products 112 Table Domestic production capacity of 9 lithium battery enterprises (10K unit) 113 Table List price of the domestic lithium carbonate (unit: RMB / ton) 117 Figure Demand structure of lithium carbonate in the down stream in China 118 Table Performance parameters comparison among different types of cells 119 Figure Schematic diagram of lithium technological progress 120 Figure Global sales capacity of hybrid engine vehicles from 1997 to 2007 (units) 120 Table Technical parameters comparison between lithium and nickel­hydrogen batteries 121 Figure Product sales revenue, cost (million) and gross margin of Keliyuan floam nickel products 122 Table Technical parameters comparison between BYD Lithium iron phosphate and Toyota NiMH 122 Figure Top ten countries in the natural gas vehicle population (10K unit) in 2009 in the world (Argentina and Pakistan, etc.) 135 Figure Production list of 18 CNG new energy vehicles from major automotive manufacturers (Ford, Mercedes, etc.) 137 Figure City distribution for gas vehicle promotion in the national fuel gas vehicles 138 Figure Vehicle population for Chinese natural gas in the promotion city from 2000 to 2010 139 Figure Natural gas vehicle population (10K unit) and market share in Chongqing, Sichuan, Urumqi and other cities (regions) in 2009 140 Figure Gas vehicles constitute (taxi, bus, etc.) constitute 140 Figure Top 5 cities in the bus gas ratio (%) in 2009 141 Figure Top 8 cities in the cab gas ratio (%) in 2009 141 Figure Gas station population in the major promotion city from 2000 to 2009 142 Figure Gas station population and market shares in the major promotion city in 2009 142 Figure Annual natural gas sales capacity from 2003 to 2009 (billion cubic meters/unit) 143 Figure Comparison between CNG price and gasoline and diesel prices in 8 cities: Beijing, Shanghai, Chengdu and so on. 143 Table City List of natural gas vehicles promotion in China 144 Figure Market share of natural gas vehicle models in 2009 (buses, passenger car, trucks and so on) 145 Figure Production capacity of natural gas vehicle models in 2009 146 Figure Organization system of natural gas vehicles 148 Figure Preparation and application of dimethyl ether 151 Table Production and synthesis of dimethyl ether 153 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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Figure Economic analysis of dimethyl ether 154 Figure Development process of dimethyl ether vehicles 155 Figure Engine power of dimethyl ether vehicles 156 Figure Engine emissions of dimethyl ether vehicles 157 Table Emission and noise testing results of dimethyl ether vehicles 156 Figure Fuel additives and wear test of dimethyl ether vehicles 157 Figure Production and demonstration projects of Shanghai DME vehicles 157 Figure R & D and demonstration plans of Shanghai DME vehicles 158 Figure Emission prospects of DME vehicles 158 Table Auto production demand, supply and demand gap in China new energy industry from 2008 to 2013 (10K unit) 160 Table Lists of investment opportunities and risks for new energy vehicles projects in China 161 Figure Development panorama route of China automobile industry 163 Figure Battery components for A123 lithium iron phosphate 164 Figure BYD "iron" battery 164 Table Comprehensive performance comparison among the hybrid, electric and other new types of vehicles 165 Table Technology list of new energy vehicles 165 Figure Diesel and gasoline demands in 9 countries including the United States 166 Figure Self­sufficiency rate of cereal grain in 10 countries including the United States 167 Table The number of CNG gas stations from 2001 to 2007 including Beijing and Shanghai 167 Table The number of LPG gas stations from 2001 to 2007 including Beijing and Shanghai 168 Figure Reserves and production ratio of crude oil and natural gas in the world 168 Figure Energy utilization rate of 13 new energy vehicles including ethanol 169 Figure Carbon dioxide emissions of 13 new energy vehicles including ethanol 169 Figure Nitrogen oxide emissions of 13 new energy vehicles including ethanol 170 Figure Particulate emissions of 13 new energy vehicles including ethanol 170 Figure Fuel cell structure diagram 171 Figure Project distribution list in the national 863 energy­saving and new energy vehicles 172 Table Market time and battery type of PHEN model in 10 Automotive manufacturers 173 Figure Industry chain structure diagram of hybrid electric vehicles 173 Table Technology strategy distribution of 5 Japanese new energy vehicles manufacturers including Toyota 175 Table Technology strategy distribution of 5 European and American new energy vehicles manufacturers including GM 175 Table Development status and direction of 14 major Chinese new energy vehicles manufacturers including BYD 176 Table Technology list of new energy vehicles 178 Figure Fuel ethanol production and consumption in the U.S.A from 1990 to 2008 179 Figure Future energy text and targets in the U.S.A from 2007 to 2030 179 Figure New energy vehicle sales capacity and ratio in the total sales volume in 5 ethanol vehicles in the U.S.A from 2000 to 2008 180 QYResearch Mr. Zhangdong sales@qyresearch.com 13811796901 8610­82945717

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Table Biofuel development plan in European Union from 2006 to 2020 180 Table 1990­2007 sales of diesel cars in Europe (1 million) and accounting for 181 Table New energy vehicles policy in the European countries such as Britain, France, Germany , Switzerland, Netherlands and so on 181 Figure Population (10K unit) of 6 Japanese new energy hybrid vehicles from 1999 to 2009 182 Table Market time and reference price (USD) of 30 hybrid engine vehicles from 2004 to 2010 including GM and Ford 183 Figure Global sales capacity (thousand unit) of American and Japanese hybrid engine vehicles from 2004 to 2008 184 Table New energy vehicles development plans of 11 major international automobile manufacturers including GM and Toyota 184 Figure Fuel­efficiency and costs improvement in the hybrid vehicles under different mixing degrees 186 Table Hybrid models list of 11 domestic and foreign automotive manufacturers 186 Table Fuel­efficiency analysis of hybrid engine service 187 Table Savings in the total cost of different mileage for hybrid cars (car + fuel) 188 Table Savings in the total cost of different oil prices for hybrid cars (car + fuel) 188 Table Savings in the total cost of different level in the cost reduction for hybrid cars (car + fuel) 189 Figure Fuel­efficiency degree for hybrid buses in different cities (London, Beijing and New York) 189 Figure Global energy saving sources for hybrid bus 190 Table List of lithium, nickel demand and value for new energy vehicles with different scales 191 Table Global lithium Resource distribution from 2002 to 2007 (production and reserves (t) of 11 countries, such as USA and Brazil) 191 Table Global nickel Resource distribution from 2002 to 2007 (production and reserves (t) of 16 countries, such as USA and Brazil) 192 Table Subsidies standard for new energy vehicles from Ministry of Finance and Ministry of Science (10K RMB/unit) 195 Table Subsidies standards in the city buses with 10 meters above (new energy vehicles) 195 Table Production access and assessment requirements for new energy vehicles 201

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