Core viewpoint: In 2024, the total sales of
Electric Tricycles in China will be about 12.5 million units, a year-on-year decrease of 10.71%, but the sales of freight and leisure electric tricycles will achieve a slight year-on-year increase. It is expected that the domestic market demand will recover at a growth rate of around 10% by 2025. Electric tricycles are a high profit track that attracts many manufacturers to enter. The market competition is fierce, and the concentration of top brands is significantly lower than that of electric two wheelers. The implementation of the new national standard and supporting policies in July 2025 will raise the compliance threshold, upgrade consumer demand, and reshape the industry's competitive landscape.
