In recent years, new energy vehicles have shown an accelerated development trend, driving the development of upstream and downstream enterprises in the automotive industry chain. In particular, the LED lights that are commonly used in new energy vehicles have become the target market for domestic lighting companies to develop automotive lighting.
With the recovery of the auto market and the increase in shipments, coupled with the increase in the penetration rate of LED lighting, it is estimated that the global automotive LED market output value will reach US$3.39 billion in 2021, with an annual growth rate of 27.4%. The main applications of automotive LEDs include Exterior lighting, including far and near headlights, direction lights, and display panels installed in the car, etc.
Facing the blue ocean of automotive LED lighting, Foshan Lighting said that the company is constantly deepening the layout of the automotive lighting field, actively exploring the pre-installation and post-installation markets in the automotive industry, and accelerating its entry into the supply system of new energy vehicle factories.
Foshan Lighting Vehicle LED Lamp, Foshan Lighting New Energy Vehicle Market
It is reported that in recent years, Foshan Lighting has continuously expanded the production scale of automotive lighting panels, invested in the construction of fully automatic production lines, and achieved three times the output of production capacity. At present, Foshan Lighting has reached cooperation with many OEMs such as Dongfeng Liuzhou Automobile, Dongfeng Nissan, Geely, Ford, etc., effectively entering the domestic passenger vehicle LED lighting vehicle supply market.
At the same time, Foshan Lighting actively explores the incremental market of new energy vehicles and cooperates with a number of new energy vehicle companies. Among them, since the first cooperation with Li Auto in 2019, it has provided lighting product solutions for 140,000 Li Li Auto.
In addition, in 2021, Foshan Lighting successfully acquired Nanning Liaowang Automotive Lighting Co., Ltd., through Nanning Liaowang's existing advantages in technology, production capacity, customer channels, etc., and actively leveraged the industrial synergy between the two parties to realize the transition from light source to car light. The transformation of lighting fixtures will further improve and deepen the layout in the field of automotive lighting.
Foshan Lighting said that in the next step, the company will further leverage its brand, technology and industrial chain advantages, speed up the pace of technological innovation, increase the development of the automotive lighting business, accelerate the extension to the new energy vehicle market, and continue to develop the blue ocean market for automotive lighting.
