Copyright FOURIN, Inc. 2024
China’s Broad-Ocean Motor Increases Production Capacity for NEV Powertrain Systems
Broad-Ocean Motor, a major Chinese motor manufacturer, increased sales by 9.1% in 2022 from the previous year to 10.93 billion CNY, and raised operating profit by 1.8 times to 590 million CNY. Sales continued to be strong from January to September 2023, increasing 4.1% year-on-year to 8.50 billion CNY. Meanwhile operating income went up 12.1% year-on-year to 660 million CNY.
Broad-Ocean Motor has set a sales target of 11.5 billion CNY for 2023, an increase of 5.2% from the previous year. The target achievement rate as of the end of September 2023 was 73.9%. In 2023, the company is developing and increasing production of new products such as high-performance motors and fan systems. It is also focusing on the development of powertrain systems for NEVs, hydrogen fuel cell systems, high-pressure canned motor pumps, hydrogen circulation systems and high-pressure cooling fans among other products.
In order to expand production capacity, Broad-Ocean Motor has decided to establish a production base and research facility for NEV powertrain systems and related parts in Yubei District, Chongqing City in June 2023. In addition, in anticipation of the expansion of the NEV market, the company plans to mass produce NEV drive systems for EV passenger cars in the near future. The products to be mass-produced include generator units for high-performance range extenders, “3-in-1” drive systems, and high-efficiency motor controllers compatible with high voltage for silicon carbide power modules.