ハブモーターの世界市場：2023-2030年

ハブモーター市場は、予測期間（2023-2030年）に4.9%の緩やかなCAGRで成長すると予測されます。市場を牽引するのは、電気自動車の需要増加です。電気自動車分野が大きく成長しているため、その効率、出力、全体的な性能の強化に注目が集まっています。ハブモーターは、主に車輪への直接動力供給に使用され、いくつかの利点をもたらします。これには、瞬間的なトルク、急加速の促進、応答性の高いハンドリングなどがあり、それによって全体的な運転体験が向上します。

セグメント別の展望

世界のハブモーター産業で最も貢献するE-Bikeセグメント

車両タイプの中で、E-Bikeが世界のハブモーター市場で最も高いシェアを占めています。E-bikeにおけるハブモーターの需要拡大は、世界のE-bikeの普及拡大、政策やインセンティブを通じたE-bikeの生産・販売に対する政府の支援、急速な技術進歩、E-bike業界における製品発売などの要因によってもたらされます。例えば、従来の自転車メーカーであるSole Bicyclesは、2023年10月にE-24 e-bikeのイントロダクションを発表し、電動自転車市場に参入しました。この電動バイクは750Wのハブモーターを搭載し、BMXスタイルが特徴です。コンパクトなデザインは、このような小型電動車両の限られたスペースに適しており、効率的なホイールハブ統合を実現しています。ハブモーターはダイレクトドライブシステムを提供し、構造をシンプルにしてメンテナンスの必要性を低減します。静かでスムーズな動作は都市部での通勤の嗜好に合致しており、ハブモーターはユーザーフレンドリーで持続可能な電動モビリティ・ソリューションに対する需要の高まりに応える上で重要な要素となっています。

地域別展望

世界のハブモーター市場は、北米（米国、カナダ）、欧州（英国、イタリア、スペイン、ドイツ、フランス、その他欧州地域）、アジア太平洋地域（インド、中国、日本、韓国、その他アジア地域）、世界のその他の地域（中東とアフリカ、中南米）を含む地域別にさらに細分化されています。地域別では、アジア太平洋地域が世界のハブモーター市場で最大の市場となっています。同地域内の国々、特にインドと中国の人口が多いことが、ハブモーターを搭載した二輪車用電気自動車（EV）の旺盛な需要に大きく貢献しています。電気自動車製造者協会（SMEV）のデータによると、インドにおける二輪車の総販売台数は、2021年度から2022年度にかけて4万4,800台から25万2,000台に増加し、2023年11月までに72万8,000台に達しました。これらの自動車は、費用対効果や効率の高さから需要が高く、交通手段として広く支持されています。さらに、この地域では都市化が著しく、市街地の混雑も相まって、コンパクトで環境に優しいパーソナル・モビリティ・ソリューションへの需要が高まっています。ハブモーターはこうした要求にシームレスに合致し、魅力的なソリューションを提示します。これとは別に、電動モビリティを促進するための政府の政策、補助金、インセンティブの実施も、ハブモーター技術の生産と消費者の両方の採用を促進するのに貢献しています。このアプローチは市場成長を効果的に刺激しています。これとは別に、アジア太平洋経済圏は広範な製造インフラの恩恵を受けており、コスト効率の高い生産が可能です。その結果、幅広い消費者がハブモーター搭載車にアクセスしやすくなっています。

インドのEV販売

北米地域のハブモーター市場は予測期間に大きく成長する見込み

北米はハブモーター市場で大きな成長が見込まれます。同地域のゼネラル・モーターズやテスラなどの大手EVメーカーは、ハブモーターの研究開発と生産に多額の投資を行い、市場拡大を推進しています。例えば、ボッシュは2022年10月、チャールストン拠点での電気モーター生産に2億6,000万米ドル以上を投資すると発表しました。市場各社が北米のニーズに合わせた先進的で効率的なハブモーター・ソリューションの創出に注力していることが、需要を押し上げると予想されます。この地域では、充電ステーションのネットワークに支えられた電気充電インフラが確立しており、電気モビリティへのアクセスが向上しています。このインフラが拡大するにつれて、ハブモーターの需要も大幅に伸びると予想されます。北米の堅調な自動車部門と製造能力は、ハブモーター産業の発展に大きく貢献しています。同地域の専門知識と資源は、増大する需要に対応する安定供給を確保し、期待される市場の成長を促進する重要な企業として位置づけられています。

目次

第1章 レポート概要

• 業界の現状分析と成長ポテンシャルの展望
• 調査方法とツール
• 市場内訳
  • セグメント別
  • 地域別

第2章 市場概要と洞察

• 調査範囲
• アナリストの洞察と現在の市場動向
  • 主な調査結果
  • 推奨事項
  • 結論

第3章 競合情勢

• 主要企業分析
• Bafang Electric（Suzhou）Co., Ltd.
  • 概要
  • 財務分析
  • SWOT分析
• Denso Corp.
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• Fuji Electric Co., Ltd.
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• Infineon Technologies AG
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向

第4章 市場セグメンテーション

• ハブモーターの世界市場：モータータイプ別
  • ギア付き
  • ギアレス
• ハブモーターの世界市場：ポジション別
  • フロントハブモーター
  • リアハブモーター
  • 前後ハブモーター
• ハブモーターの世界市場：販売チャネル別
  • OEM
  • アフターマーケット
• ハブモーターの世界市場：自動車タイプ別
  • 電気自動車（EV）
  • 電動自転車（Eバイク）
  • その他の用途（スクーター、車椅子）

第5章 地域分析

• 北米
  • 米国
  • カナダ
• 欧州
  • 英国
  • ドイツ
  • イタリア
  • スペイン
  • フランス
  • その他欧州
• アジア太平洋
  • 中国
  • インド
  • 日本
  • 韓国
  • その他アジア太平洋地域
• 世界のその他の地域

第6章 企業プロファイル

• Amirpower Transmission Ltd.
• Ananda Drive Techniques（Shanghai）Co., Ltd.
• Brose Fahrzeugteile SE & Co.
• Changzhou Keling Power Technology Co., Ltd.
• Cutler MAC（Shanghai）Brushless Motor Co., Ltd.
• Dana Inc.
• Elaphe LAB
• Heinzmann GmbH & Co. KG
• JK Fenner
• Johnson Electric Holdings Ltd.
• Leaf Bike Technology Co., Ltd.
• Mitsuba Corp.
• NTN Corp.
• QS MOTOR LTD.
• Robert Bosch GmbH
• Suzhou XiongFeng Motor Co., Ltd.

LIST OF TABLES

• 1. GLOBAL HUB MOTOR MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
• 2. GLOBAL GEARED HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 3. GLOBAL GEARLESS HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 4. GLOBAL HUB MOTOR MARKET RESEARCH AND ANALYSIS BY POSITION, 2022-2030 ($ MILLION)
• 5. GLOBAL FRONT HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 6. GLOBAL REAR HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 7. GLOBAL BOTH FRONT AND REAR HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 8. GLOBAL HUB MOTOR MARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2022-2030 ($ MILLION)
• 9. GLOBAL OEM HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 10. GLOBAL AFTERMARKET HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 11. GLOBAL OTHER HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 12. GLOBAL HUB MOTOR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
• 13. GLOBAL ELECTRIC VEHICLES (EVS) BASED HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 14. GLOBAL ELECTRIC BIKES (E-BIKES) BASED HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 15. GLOBAL OTHER APPLICATIONS BASED HUB MOTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 16. GLOBAL HUB MOTORMARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 17. NORTH AMERICAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
• 18. NORTH AMERICAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
• 19. NORTH AMERICAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY POSITION, 2022-2030 ($ MILLION)
• 20. NORTH AMERICAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2022-2030 ($ MILLION)
• 21. NORTH AMERICAN HUB MOTOR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
• 22. EUROPEAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
• 23. EUROPEAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
• 24. EUROPEAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY POSITION, 2022-2030 ($ MILLION)
• 25. EUROPEAN HUB MOTORMARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2022-2030 ($ MILLION)
• 26. EUROPEAN HUB MOTOR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
• 27. ASIA-PACIFIC HUB MOTORMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
• 28. ASIA-PACIFICHUB MOTORMARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
• 29. ASIA-PACIFICHUB MOTORMARKET RESEARCH AND ANALYSIS BYPOSITION, 2022-2030 ($ MILLION)
• 30. ASIA-PACIFICHUB MOTORMARKET RESEARCH AND ANALYSIS BYSALES CHANNEL, 2022-2030 ($ MILLION)
• 31. ASIA-PACIFICHUB MOTOR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
• 32. REST OF THE WORLD HUB MOTORMARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
• 33. REST OF THE WORLD HUB MOTORMARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
• 34. REST OF THE WORLD HUB MOTORMARKET RESEARCH AND ANALYSIS BY POSITION, 2022-2030 ($ MILLION)
• 35. REST OF THE WORLD HUB MOTORMARKET RESEARCH AND ANALYSIS BY SALES CHANNEL, 2022-2030 ($ MILLION)
• 36. REST OF THE WORLD HUB MOTOR MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)

LIST OF FIGURES

• 1. GLOBAL HUB MOTORMARKETSHARE BY MOTOR TYPE, 2022 VS 2030 (%)
• 2. GLOBAL GEARED MOTOR MARKETSHARE BY REGION, 2022 VS 2030 (%)
• 3. GLOBAL GEARLESS MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 4. GLOBAL HUB MOTOR MARKET SHARE BY POSITION, 2022 VS 2030 (%)
• 5. GLOBAL FRONT HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 6. GLOBAL REAR HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 7. GLOBAL FRONT AND REARHUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 8. GLOBAL HUB MOTOR MARKET SHARE BY SALES CHANNEL, 2022 VS 2030 (%)
• 9. GLOBAL OEM BASED HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 10. GLOBAL AFTERMARKET HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 11. GLOBAL HUB MOTOR MARKET SHARE BY VEHICLE TYPE, 2022 VS 2030 (%)
• 12. GLOBAL EV HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 13. GLOBAL E-BIKE HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 14. GLOBAL OTHER APPLICATIONS BASED HUB MOTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
• 15. GLOBAL HUB MOTORMARKETSHARE BY REGION, 2022 VS 2030 (%)
• 16. US HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 17. CANADA HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 18. UK HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 19. FRANCE HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 20. GERMANY HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 21. ITALY HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 22. SPAIN HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 23. REST OF EUROPE HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 24. INDIA HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 25. CHINA HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 26. JAPAN HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 27. SOUTH KOREA HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 28. REST OF ASIA-PACIFIC HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)
• 29. REST OF THEWORLD HUB MOTORMARKET SIZE, 2022-2030 ($ MILLION)

Global Hub Motor Market Size, Share & Trends Analysis Report by MotorType (Geared and Gearless Motor), by Position (Front Hub Motor, Rear Hub Motor and Both Front and Rear Hub motor),by Sales Channel (OEM and Aftermarket),and by Vehicle Type (Electric vehicles (EVs), Electric bikes (e-bikes),Other Applications) Forecast Period (2023-2030)

The hub motor market is anticipated to grow at a moderate CAGR of 4.9% during the forecast period (2023-2030). The market is driven by the increasing demand for electric vehicles. As the electric vehicles sector is growing significantly, there is a growing focus on enhancing their efficiency, power, and overall performance. Hub motors which are primarily used for direct power delivery to the wheels bring several advantages. These include instantaneous torque, facilitating rapid acceleration, and responsive handling, thereby enhancing the overall driving experience.

Segmental Outlook

The global hub motor market is segmented by motor type, position, sales channel, and vehicle type. By motor type, the market is sub-segmented into geared and gearless motors. By position, the market is sub-segmented into front hub motor, rear hub motor, and both front and rear hub motor. By sales channel, the market is sub-segmented into original equipment manufacturer (OEM) and aftermarket. By vehicle type, the market is sub-segmented into electric vehicles (EVs), electric bikes(e-bikes), and other applications such as scooters and wheelchairs.

The E-Bike Segment Contribute Highest in the Global Hub Motor Industry

Among the vehicle types, the e-bikes contribute highest to the global hub motor market. The growing demand for hub motors in E-bikes is driven by factors such as the growing adoption of e-bikes globally, government support for the production and sales of e-bikes through policies and incentives, rapid technological advancements, and product launches in the e-bike industry among others. For instance, in October 2023, Sole Bicycles, a traditional bicycle manufacturer, ventured into the electric bicycle market with the introduction of the E-24 e-bike. This electric bike is equipped with a 750W hub motor and features BMX styling. The compact design suits the limited space of these smaller electric vehicles, offering an efficient wheel hub integration. Hub motors provide a direct drive system, simplifying the structure and reducing maintenance needs. The quiet and smooth operation aligns with urban commuting preferences, making hub motors a crucial element in meeting the increasing demand for user-friendly and sustainable electric mobility solutions.

Regional Outlook

The global hub motor market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among regions, the Asia-Pacific region is the largest market for the global hub motor market. The sizable populations of countries within the region, notably India and China, contribute significantly to the robust demand for two-wheeler electric vehicles (EVs) featuring hub motors. As per the data from the Society of Manufacturers of Electric Vehicles (SMEV), the total sales of 2-wheelers in India have grown from 44.8 thousand to 252 thousand from FY2021 to FY2022 and has reached 728 thousand till November 2023. These vehicles are in high demand due to their cost-effectiveness and efficiency, making them a widely favored means of transportation. Furthermore, the region experiences significant urbanization, coupled with congested city streets, creating a demand for compact and environmentally friendly personal mobility solutions. Hub motors align seamlessly with these requirements, presenting a compelling solution. Apart from this, the implementation of government policies, subsidies, and incentives to promote electric mobility has also contributed to driving both production and consumer adoption of hub motor technology. This approach has effectively stimulated market growth. Apart from this, the Asia Pacific economies benefit from extensive manufacturing infrastructure, enabling cost-effective production. This, in turn, enhances accessibility to hub motor-equipped vehicles across a broad spectrum of consumers.

India EV sales

Source: SMEV

The North American RegionHub Motor Market is Expected to Grow Significantly in the Forecasting Period

North America is expected to grow significantly in the hub motor market. Leading EV manufacturers such as General Motors and Tesla in the region are driving market expansion by investing heavily in hub motor R&D and production. For instance, in October 2022, Bosch announced more than $260 million in investment in electric motor production at the Charleston site. The focus on creating advanced and efficient hub motor solutions made to North American needs by market players is expected to boost demand. The region's well-established electric charging infrastructure, supported by a network of charging stations, enhances accessibility to electric mobility. As this infrastructure expands, there is a substantial anticipated growth in demand for hub motors. North America's robust automotive sector and manufacturing capabilities contribute significantly to the hub motor industry's progress. The region's expertise and resources position it as a key player, ensuring a steady supply to meet increasing demand and driving expected growth in the market.

Market Players Outlook

The major companies serving the global hub motor market are Ananda Drive Techniques(Shanghai)Co., Ltd., Amirpower Transmission Limited, Brose Fahrzeugteile SE & Co., and Dana Inc. among others. The market players are focusing on collaboration with end-user industries for business expansion and product development to stay competitive. Strategies like these are also contributing to the growth of the overall hub motor market. For instance, in February 2023, FLASH, a technology supplier and electronic component manufacturer, further bolstered its Electric Vehicle (EV) capabilities and product lineup through a new technological collaboration with GEM Motors, a European electric vehicle company. Through this partnership, both companies collaborated in producing hub motors for various segments of electric vehicles, spanning from 1 kW to 15 kW. The motors will feature a flexible and modular design, allowing FLASH to offer customization options with faster turnaround times. This approach enables FLASH to meet customers' specific requirements and effectively accommodate their demanding project deadlines.

The Report Covers:

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the hub motor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

Table of Contents

1. Report Summary

• Current Industry Analysis and Growth Potential Outlook
• 1.1. Research Methods and Tools
• 1.2. Market Breakdown
  • 1.2.1. By Segments
  • 1.2.2. By Region

2. Market Overview and Insights

• 2.1. Scope of the Report
• 2.2. Analyst Insight & Current Market Trends
  • 2.2.1. Key Findings
  • 2.2.2. Recommendations
  • 2.2.3. Conclusion

3. Competitive Landscape

• 3.1. Key Company Analysis
• 3.2. Bafang Electric (Suzhou) Co., Ltd.
  • 3.2.1. Overview
  • 3.2.2. Financial Analysis
  • 3.2.3. SWOT Analysis
• 3.3. Denso Corp.
  • 3.3.1. Overview
  • 3.3.2. Financial Analysis
  • 3.3.3. SWOT Analysis
  • 3.3.4. Recent Developments
• 3.4. Fuji Electric Co., Ltd.
  • 3.4.1. Overview
  • 3.4.2. Financial Analysis
  • 3.4.3. SWOT Analysis
  • 3.4.4. Recent Developments
• 3.5. Infineon Technologies AG
  • 3.5.1. Overview
  • 3.5.2. Financial Analysis
  • 3.5.3. SWOT Analysis
  • 3.5.4. Recent Developments

4. Market Segmentation

• 4.1. Global Hub Motor Market By Motor Type
  • 4.1.1. Geared
  • 4.1.2. Gearless
• 4.2. Global Hub Motor Market By Position
  • 4.2.1. Front Hub motor
  • 4.2.2. Rear Hub motor
  • 4.2.3. Both Front and rear Hub Motor
• 4.3. Global Hub Motor Market By Sales Channel
  • 4.3.1. OEM
  • 4.3.2. Aftermarket
• 4.4. Global Hub Motor Market By Vehicle Type
  • 4.4.1. Electric vehicles (EVs)
  • 4.4.2. Electric bikes (e-bikes)
  • 4.4.3. Other applications (scooters, wheelchairs)

5. Regional Analysis

• 5.1. North America
  • 5.1.1. United States
  • 5.1.2. Canada
• 5.2. Europe
  • 5.2.1. UK
  • 5.2.2. Germany
  • 5.2.3. Italy
  • 5.2.4. Spain
  • 5.2.5. France
  • 5.2.6. Rest of Europe
• 5.3. Asia-Pacific
  • 5.3.1. China
  • 5.3.2. India
  • 5.3.3. Japan
  • 5.3.4. South Korea
  • 5.3.5. Rest of Asia-Pacific
• 5.4. Rest of the World

6. Company Profiles

• 6.1. Amirpower Transmission Ltd.
• 6.2. Ananda Drive Techniques (Shanghai)Co., Ltd.
• 6.3. Brose Fahrzeugteile SE & Co.
• 6.4. Changzhou Keling Power Technology Co., Ltd.
• 6.5. Cutler MAC (Shanghai) Brushless Motor Co., Ltd.
• 6.6. Dana Inc.
• 6.7. Elaphe LAB
• 6.8. Heinzmann GmbH & Co. KG
• 6.9. JK Fenner
• 6.10. Johnson Electric Holdings Ltd.
• 6.11. Leaf Bike Technology Co., Ltd.
• 6.12. Mitsuba Corp.
• 6.13. NTN Corp.
• 6.14. QS MOTOR LTD.
• 6.15. Robert Bosch GmbH
• 6.16. Suzhou XiongFeng Motor Co., Ltd.