China's Electric Vehicle Drive Motor Market Overview 2025

According to data from LookWhole Insight, China's Electric Vehicle Drive Motor industry has formed a pattern dominated by permanent magnet synchronous motors. In 2024, the market size will reach US$7.568 billion, a year-on-year increase of 17.25% during 2025-2033, of which permanent magnet motors account for as much as 96%.

Electric Vehicle Drive Motor Market Analysis

The electric vehicle drive motor is one of the core components used in new energy vehicles (including electric vehicles, plug-in hybrid vehicles, etc.), which is responsible for converting electrical energy into mechanical energy to drive the vehicle. The drive motor is a core component of new energy vehicles. Benefiting from the increase in the electrification rate and the proportion of dual-motor models, the drive motor has expanded rapidly. In 2024, the installed capacity of new energy vehicle drive motors in China alone reached 6.785 million units. From the perspective of technical paths, the development trend of high power density and miniaturization of motors makes flat wire motors and oil-cooled motors an inevitable trend; oil-cooled motors have high cooling efficiency and good insulation performance; compared with round wire motors, the slot fill rate of flat wire motors is increased by 20%-30%, and it has the advantages of high efficiency, high power density, good heat dissipation performance, low noise, and lighter weight. In 2021, mainstream car companies such as BYD and Tesla have replaced flat wire motors. At present, the penetration rate of flat wire motors in new energy vehicles has exceeded 40%.  

China Electric Vehicle Drive Motor Market: Competitive Landscape

China’s electric vehicle (EV) drive motor industry presents a dual-track competitive landscape with stratified differentiation. Two major camps coexist: OEM self-supply systems and third-party suppliers. Vertically integrated enterprises represented by Fudi Power dominate the market, benefiting from technological synergy and economies of scale. Meanwhile, foreign brands such as Tesla and Nidec, along with domestic third-party suppliers like Inovance Automotive and Founder Motor, are competing for segmented market shares through differentiated technological paths.

The overall industry concentration remains in a phase of dynamic optimization. Leading companies are accelerating integration by leveraging their advantages in permanent magnet synchronous motor (PMSM) technology and supply chain resources. Mid-tier manufacturers are focusing on innovations such as flat wire motors and oil-cooling technology to build technological moats.

With the increasing penetration of new energy vehicles and the rising share of dual-motor models, the market competition is gradually shifting from single-product performance comparisons to full-spectrum ecosystem competition involving “electric drive system integration + cost control + intelligent adaptation.” In the future, as multi-in-one electric drive platforms become more widespread and the application of silicon carbide materials deepens, leading enterprises with full-stack R&D capabilities and ecosystem collaboration advantages will further expand their leadership. Small and medium-sized suppliers will need to seek breakthroughs through specialized division of labor or cross-sector technological integration.

In the first half of 2021 (2021H1), the top 10 companies accounted for a total market share of 74.4%, among which 6 were third-party suppliers, whose installation volume accounted for 45.97% of the top 10, while 4 were automakers, accounting for 54.03%.

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