New energy vehicles run at "China's speed" and even more at "China's opportunity"

The 2023 Guangzhou International Auto Show, known as the "barometer of the development of the Chinese automotive market", was held from November 17th to 26th. New energy vehicles occupied the "C position", and the scale and product strength of the exhibition reached a new level. "Going global" has become a focal term for many new energy vehicle brands. China's new energy vehicle industry chain is becoming stronger and larger, accelerating its overseas expansion and helping to upgrade the global automotive industry.

New energy vehicles are showing a good trend of both production and sales. In terms of production, among the more than 1100 exhibition vehicles at the Guangzhou International Auto Show, there were 469 new energy vehicles, accounting for more than 40% of the total number of participating vehicles, setting a historical record. While the quantity is dominant, China's new energy vehicles are constantly updating and iterating in technology, and different brands of cars compete with new products on the same field, each showing their unique abilities. Looking at sales, new energy vehicles have formed a dual growth in both domestic and overseas markets. From January to October this year, the sales of new energy vehicles in China reached 7.28 million units, a year-on-year increase of 37.8%. Among them, the export of new energy vehicles reached nearly 1 million units, a year-on-year increase of nearly 100%. The rapid growth of exports injects new momentum into foreign trade. In the third quarter of this year, 65% of new energy vehicle sales in the global market came from China.

The key to strong production and sales momentum lies in a forward-looking industrial policy layout, comprehensive industrial chain support, and endogenous driving force brought about by technological innovation. For example, it is precisely in the fields of electric motors, electronic controls, and batteries that core key technologies have been mastered, enabling China's new energy vehicles to gain an advantage in international competition. Volkswagen Group's Chairman of the Board of Directors, Aubamu, said, "With its strong innovation vitality, China is becoming an important leader in the global automotive industry." Renault Group CEO Luca de Mayo said, "Chinese car companies are very competitive in the electric vehicle value chain. I think they are one generation ahead of us." The Financial Times reported that China's dominant position in the field of new energy vehicles is increasingly rising, China has scale and cost advantages in the supply chains of electric vehicles, power batteries, wind energy, and solar energy. According to an article in The New York Times, some German automaker executives use the keyword "Chinese speed" to describe how quickly they need to act in order to catch up with the development speed of electric vehicles in China. The speed of China reflects the speed at which the Chinese automotive industry is transforming into an electric vehicle giant.

New energy vehicles are galloping towards the world, contributing to the global green energy transformation, and have become a shining new business card of Chinese manufacturing, gaining countless overseas fans. According to a report on the website of the Spanish newspaper "Public", many Chinese new energy vehicle brands have stood out in the international market, and some Chinese new energy vehicle brands have entered the European market, leaving a good impression on the local market. An article from the US "Electric Vehicle Insider Network" pointed out that in Europe, Chinese electric vehicles are one of the most popular electric vehicles, which is "not surprising". The Algerian newspaper Dongfang Pao commented that Chinese made electric vehicles are occupying an increasing market share in Africa, and the cake is getting bigger, providing necessary technical and product support for Africa's electrification transformation.

Many industry insiders strongly oppose the EU's anti subsidy investigation into Chinese electric vehicles, precisely because they are optimistic about the huge opportunities that China's new energy vehicles will bring to the world. Against the backdrop of increasing global climate challenges, the electric vehicle industry in China and Europe share common expectations and goals. The EU should objectively and fairly view the contribution and strength of Chinese enterprises in promoting the EU and global climate vision, and jointly expand the green economy market, including the electric vehicle sector, by encouraging cooperation between China and Europe in the industrial chain, supply chain, and research and development fields. Ferdinand Dudenhofer, a well-known German automotive expert and director of the Duisburg Automotive Research Center, said that China is an indispensable and important force in the process of new energy transformation in the automotive industry. From automotive batteries to automotive software, chips, and many other fields, Chinese companies are at the forefront of global technology. European automotive companies need to learn from their Chinese counterparts and work together between China and Europe to achieve win-win results.

At the Guangzhou International Auto Show, both the exchange and interaction with Chinese new energy vehicle companies and the exploration of cooperation opportunities with local Chinese suppliers have shown the confidence of foreign car companies in the Chinese market and technology. We look forward to a two-way journey between the domestic and foreign automotive industries, sharing new energy opportunities.