Hendrik_2000
Lieutenant General
That is not true anymore let market be the judge. The best prove is China domestic market that was once dominated by foreign brand. But now more than half of the market is grabbed by domestic producer. And so do the components to make those cars. At one time they have to be imported thing like engine and electronic. But now are all domestic although some of the engine are designed by European consultant. IN term of styling most Chinese car maker now has subsidiary in Italy to design stylish care. But IC car is sunset industry and soon will be replaced by EV and here China is leading as the important component is Battery and high efficiency and compact motor. Both industry are dominated by Chinese company like CALT. China decided to open the market to give equal footing to both domestic and foreign car that way it induced competition and excellence. China domestic car can stand on its own now no more coddling
Chinese brands grab half of domestic auto market share
By Chen Liubing | chinadaily.com.cn | Updated: 2020-08-17 11:28
Chinese-branded vehicles have taken more than half of the domestic automobile market share, and 40 percent passenger vehicle market shares, Fu Bingfeng, deputy secretary general of the China Association of Automobile Manufacturers, said at the 2020 China Auto Forum on Aug 14, Xinhua reported.
The country has topped the global auto market in sales for 11 consecutive years, and taken up one-third of the world's market, Fu said, adding that the number of vehicles in China is set to reach 270 million units by the end of this year.
Chinese-branded vehicles are benefiting from the country's huge automobile market, he said.
Wang Xiaoqiu, president of SAIC Motor, said the Chinese vehicle sector is rebounding rapidly thanks to the support of the government. Wang added that the rebuilding of the company's brand was directed by younger consumers and the upgrading trend of consumption. Wang also noted that cooperation among Chinese brands is vital in tackling core technologies in key areas such as internet connected vehicles.
The global automobile market has seen sales slump amid the coronavirus pandemic, while the Chinese market has rebounded since May, indicating market resilience and positive effect of policies, said Christoph Wolff, member of the executive committee at the World Economic Forum, who noted that the Chinese experience is referential to the global market recovery.
The adjustment of industrial policies has provided more opportunities for multinational car makers in China, the report said.
As the country lifted restrictions on foreign equity shares in new energy vehicle manufacturing, Tesla Inc launched its first mega-factory in Shanghai and unveiled its China-made Model 3 in November last year. Volkswagen AG also closed its 1 billion euro deal in acquiring 50 percent stakes of its electric-vehicle partner JAC Motor this May.
The next five years will be the key period for the upgrading and transformation of China's auto industry, Fu said, suggesting industry players should seize the opportunities and expand their footprints in both domestic and overseas markets.
China's domestic auto brands rapidly progressing
The rise of NEVs has given Chinese auto companies the opportunity to rapidly progress. Chinese companies have made breakthroughs in the three core technologies of NEV batteries, motors and electric control, analysts said.
Shenzhen-based BYD was the first automaker in the world to master the three core technologies. Its annual battery production capacity of 16GWh makes it a world leader in batteries.
Contemporary Amperex Technology Co Limited (CATL), China's largest lithium-ion battery maker, has grown into one of the world's most competitive battery suppliers backed up with its innovative capability, and foreign automakers have been actively seeking cooperation with CATL.
In a recent move, Japanese automaker Honda said that it will buy a one-percent stake in CATL. The two companies said in a joint statement that they would jointly develop EV battery technologies and expand discussions on battery recycling and reuse businesses.
FAW, the cradle of China's auto industry, has also stepped up efforts to reinforce EV innovation, research and development and made breakthroughs in new energy and key technologies.
China has been leading globally in terms of NEV output and sales in the past five years. Despite this, the sector met a turning point in 2019 when sales declined for the first time by 4 percent year-on-year due to a cooling auto market and the reduction of government subsidies.
"Home-grown NEV brands now take the lead and it is one of the development areas where domestic brands surpass their foreign peers," said Feng.
Feng believed NIO, the best-known Chinese EV brand listed at the US stock market, has the ability to compete with US auto giant Tesla based on the Chinese firm's advantages in high-end manufacturing and services.
For the transformation toward smart cars, domestic brands have some natural advantages, according to Cui.
"Supported by technologies like 5G and the BeiDou navigation system, as well as other innovations made by Tencent and Alibaba, China-made smart cars have huge potential to take the lead in the sector," said Cui.
ACTECO is an engine brand created by of . Engines range in size from 800 cc to 4.0 L, with architectures including a and . The range was developed with company .
Founded in 1997, Chery Powertrain Division is affiliated with Chery Automobile Co. and provides all the powertrains in the Chery range of vehicles.
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