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The Chinese electric vehicle industry calls for strengthening global cooperation.

The Chinese electric vehicle industry calls for strengthening global cooperation.

TraderKnowsTraderKnows
2024-05-09
Summary:Chinese companies seek higher profits from overseas markets. They plan to use German automakers' brands to boost their sales and survive in China's crowded electric vehicle market.

The leadership of China's electric vehicle industry, including policy advisors and the "father of electric cars" Wan Gang, as well as executives from car manufacturers BYD, Nio, and battery maker CATL, have called for strengthened global cooperation and policy standardization to promote technological transformation.

Wan Gang, a key figure in guiding the development of China's electric vehicles, stated that efficient batteries, better electric vehicle architecture, and intelligent driving systems are the three key technologies needed to promote the widespread adoption of electric vehicles.

Zeng Yuqun, chairman of CATL, the world's largest battery manufacturer, expressed that the gap in electric vehicle development across different regions is gradually widening due to differences in policies, industrial foundations, and levels of technological development.

These executives made the above remarks at the World New Energy Vehicle Congress (WNEVC) held in Munich, marking the first time Chinese electric vehicle manufacturers have held such a conference outside of China, symbolizing their ambition for expansion.

Wang Chuanfu, the chairman of BYD, expressed his desire to invite German partners to join BYD in promoting green transportation. Li Bin, CEO of Nio, said that although positioning China as a research and development base by our German colleagues is correct, it has also put some pressure on the Chinese electric vehicle industry.

Recently, executives from Chinese electric vehicle companies such as Xpeng, Leapmotor, and SAIC have called for establishing more partnerships with German automakers and expressed admiration for the innovations showcased at the Munich Motor Show (IAA).

Chinese companies are actively seeking overseas markets to achieve higher profit margins. They hope to leverage the scale and brand influence of German automakers to boost their own sales and survive in the highly competitive Chinese electric vehicle market.

Wan Gang, the chairman of WNEVC, pointed out that while developing all-electric vehicles, the development of hydrogen fuel cell vehicles and plug-in hybrid vehicles should also be strengthened. BMW CEO Oliver Zipse agreed with this view and called for China to expand its hydrogen refueling network.

At a closed-door meeting before the opening of WNEVC, executives from the Chinese and German automotive industries discussed topics such as unifying carbon emission tracking standards for supply chains. Wan Gang stated that companies from both countries should work together to promote low-carbon development across the entire supply chain.

Wan Gang, who once served as the Minister of Science and Technology, played a role in China's government investment in low-emission vehicles and is often referred to as the "father of electric vehicles" by Chinese official media. After studying and working for 15 years at Audi, a subsidiary of Volkswagen in Germany, Wan Gang returned to China and led a government-led development plan for the electric vehicle market.

At the opening ceremony of WNEVC, Wan Gang told German automotive industry officials and executives that his experience in Germany helped him understand how companies achieve technological innovation and application.

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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TraderKnows
Written byTraderKnows
Created date:2023-09-07 05:48
Last Updated:2024-05-09 07:36
Independent Analysis: Manually researched and fact-checked by the TraderKnows Compliance Team, based on public regulatory records.
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