On August 11, the China Association of Automobile Manufacturers released the automobile production and sales data and industry operation in July 2022. The data shows that the production and sales of new energy vehicles increased by 1.2 times year-on-year, and the production and sales still maintained a rapid growth momentum.??
The rapid development of the new energy vehicle industry will have any impact on its supporting industry - the cable industry?
According to data from international market research institutions, the global demand for electric vehicle charging cables will reach US$2.453 billion by 2027, with a compound annual growth rate of 29.8%. Factors such as the “dual carbon” background, government subsidy policies, and rising fossil fuel prices have driven the increase in global electric vehicle sales, and the electric vehicle charging infrastructure will also be further developed as a supporting industry chain.
In the fiercely competitive market, how should cable manufacturers seize the opportunity to survive and develop?
At present, whether it is the use of high-temperature and flexible silicone wires or other development directions such as lightweight aluminum conductor cables, if domestic enterprises want to participate in international competition, they still need to seize opportunities, practice their internal skills, and continuously carry out technological innovation. Only by putting product safety and quality at the core of production can we gain a competitive advantage in the market and turn challenges into development opportunities, so that we can survive and develop in the fierce market competition.
With the rapid development of new energy vehicles, the cable industry is bound to usher in a new wave. Although OMG's products and technologies have served major automobiles and well-known connector companies, OMG's pursuit is far more than the present. With the corporate mission of "Green Innovation, Benefit Humanity", OMG seizes every opportunity to create value for customers through continuous innovation, so as to realize the international corporate mission of becoming a world-class provider of new energy vehicle cable solutions.

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