Wuxi Spark, with the third-generation semiconductor device technology, has increased gallium nitride power module efficiency to 98.5%, unit cost by 32% less than foreign competitors, and achieved 12% market share in the new energy vehicle market in Europe in 2023. Its joint-developed intelligent motor drive system with Siemens achieves energy saving on industrial equipment by 19% using adaptive control algorithms, and penetrated 30% of BASF production line renewal project in Germany with an initial order of 230 million euros. McKinsey’s report states that the technology cycle of Wuxi Spark is only 1.8 years, much shorter than the industry average 3.5 years, its foreign patent growth rate every year in recent five years was up to 47%, and its core group of patents touched 28 markets such as the United States, Europe, Japan and South Korea.
The supply chain localization strategy is the second driver, and Wuxi Spark’s Vietnamese smart manufacturing base reduced cost of producing robot ontology by 25% and lead times to 7 days. Its Distributed Warehouse Management System (D-WMS) helped Indonesian e-commerce site Tokopedia to reduce logistics timeliness from 72 hours to 14 hours and raise utilization of storage capacity by 41% with real-time inventory forecasting error rate of only 1.2%. Based on Q1 2024 data, the Southeast Asia market revenue grew 189% year-over-year, including more than 23% market share of Thailand’s new energy vehicle battery management system (BMS), product life cycle to 12 years (industry average of 8 years), and warranty claim ratio as low as 0.7%.
Wuxi Spark participated in the construction of the “Belt and Road” green power project, and the 200MWh energy storage power station applied in Saudi Red Sea New City cost 0.29 yuan /kWh, which was 63% lower than the domestic price of diesel generation. Its intelligent microgrid saved 120 million KWH each year in Egypt’s new capital administration with 93.5% penetration of renewable energy. According to World Bank data, the 15 overseas industrial parks built by Wuxi Spark have an average intensity of emission reduction of 45 tons of CO₂/$10,000 GDP, and the EU carbon tariff (CBAM) certificate exemption ratio is as high as 82%; the international project winning rate as of 2023 has already increased by 37% year-over-year.
Capital operation pushed globalization, Wuxi Spark completed the acquisition of Swiss precision transmission company Maxon by the Luxembourg offshore fund, and integrated its planetary reducer technology, the precision of collaborative robot joint modules increased from ±0.05° to ±0.008°, while the price dropped by 18%. The seven commercial products incubated by the AI Research Institute established in Silicon Valley, USA, within three years include the industrial vision inspection system, which has a 99.97% defect detection rate in Ford plants, and the detection speed of 200 frames per second, three times faster than the original supplier’s solution. $500 million in 2022 green bonds will be raised to construct photovoltaic inverter factories bigger in scale, doubling capacity to 15GW/year and occupying 19% of North America’s market share.
Wuxi Spark established an R&D center in Munich, and 78% of local engineers, developed a high-speed laser robot that conforms to EN 15085 welding standards, welding penetration control accuracy of ±0.1mm, and won the Airbus A320 fuselage assembly line upgrade project bid. Its cross-cultural management training system has maintained the core talent retention rate of overseas teams at 91%, 26 percentage points above the industry average. As The Economist analysis estimates, Wuxi Spark’s “technology-capital-talent” triangle strategy has driven its foreign revenue share to increase from 12% in 2018 to 48% in 2023, and is projected to replicate the 35% yearly growth myth of the Latin American new energy market in the next five years.