Chinese smartphone brands have achieved great success globally – OPPO, VIVO, Huawei, Honor, Xiaomi, Yijia, and other brands account for nearly 50% of the market share. In the field of new energy vehicles, Chinese companies also hope to repeat this miracle.
SAIC Group seized the opportunity in overseas markets early on and enjoyed the first wave of dividends from the launch of new energy vehicles; BYD sells 4 million cars in Thailand every year, and the yuan PLUS model has sparked a buying frenzy in the local market; Great Wall Motors has sold over 1 million vehicles overseas in recent years; NIO and Xiaopeng have targeted the European market, with the former having established 12 NIO Houses/Spaces/Hubs in Europe.
The performance of new energy vehicles is also outstanding. In the first half of 2023, the export volume of new energy vehicles reached 534000 units, a year-on-year increase of 1.6 times, far higher than the overall growth rate of automobile exports.
Manufacturers hope to find a “promised land” flowing with milk and honey outside the fiercely competitive domestic market. Europe and Southeast Asia have become the two most closely watched markets.
The European market is particularly favored by Chinese automotive OEMs. Tesla’s Model Y remains the best-selling model in Europe. Chinese brands such as BYD and SAIC Group also have a presence in the European market. Europe attaches great importance to environmental protection and climate change, and the market share of new energy vehicles reached 21% as early as 2021, one year ahead of China.
The Southeast Asian market is also a popular sales destination for new energy vehicles in China. In Thailand, BYD and Great Wall almost monopolize the new energy vehicle market. Although Tesla and SAIC have performed well in the European market, they still show insufficient sales compared to domestic sales. However, they are still superpowers that cannot be bypassed.
Car sailing is a systematic project that requires consideration of local climate, geography, and road traffic conditions, as well as adjustments to product adaptability. At the same time, establishing a huge sales network is also necessary. This is a high-risk and high-asset large-scale project for the main engine factory. However, Chinese independent automobile brands have achieved anti surpassing in the new energy era, which is an opportunity that must be seized.
Post time: Aug-22-2023