In the second half of 2022, monopolized by the shadow of the global economic downturn, the sales of electric vehicles still produced a very beautiful report card for the whole year, with a total of 9.8 million YoY 55.8% sold, as shown in the following chart, and it is estimated that in the next five years, it will reach 28.4 million in 2027 with a compound annual growth rate of 30%. As for electric vehicles, the number of models will reach 450 in 2022, and is expected to grow to 1,450 in five years' time, with an average of 200 new vehicles per year in the next five years. Both the increase in production and the number of models will pose a huge challenge to car manufacturers in terms of production capacity and R&D capacity.