On December 16, 2023, the elimination of low-speed electric vehicles (low-speed electric three-wheeled and four-wheeled vehicles) is accelerating across China, especially the "old manle" (low-speed electric three-wheeled and four-wheeled vehicles) that are popular among the elderly. This type of vehicle has been deeply loved by the elderly due to its cheap and simple procedures. However, due to the existence of large traffic safety hazards, various localities have strengthened the control of such vehicles.
According to the notice of the Beijing Municipality, from January 1, 2024, illegal electric three-wheeled and four-wheeled vehicles will be completely banned. Similar regulations have been introduced across the country. Illegal electric.
3. Four-wheeled vehicles refer to vehicles that are produced without the permission of the Ministry of Industry and Information Technology and are not listed in the "Announcement of Road Motor Vehicle Manufacturers and Products", whose performance does not meet the technical standards for motor vehicle safety, and are used to carry passengers or goods. Such vehicles cannot be registered, nor can they be insured with compulsory motor vehicle accident liability insurance.
There have been many manufacturers in the "old man" market, such as Reading Automobile, Jinpeng Automobile, Hebei Yujie Automobile Industry, Shandong Litz, etc. However, due to policy adjustments, sales have declined, and these manufacturers have faced transformation difficulties. Some companies have tried to upgrade to micro electric vehicles, but the results have not been satisfactory. Reading Motors filed for bankruptcy in May 2023, and a number of other businesses are also struggling.
Experts believe that if the "old man" manufacturers want to continue to survive, only through the transformation and upgrading to micro electric vehicles, especially A00 electric vehicles, can they find new markets. However, in the absence of policy support and technical support, most of the "old man" manufacturers are facing the fate of withdrawing from the stage of history.