Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Industry

China expected to see higher auto industry concentration amid cross-industry integration

January 18, 2021


Abstract : China's automobile industry is expected to witness a higher concentration amid the accelerating cross-industry integration this year, the Xinhua-run Economic Information Daily reported on Monday.

auto show.png

People visit the 18th Guangzhou International Automobile Exhibition at the China Import and Export Fair Complex in Guangzhou, south China's Guangdong Province, Nov. 29, 2020. (Xinhua/Lu Hanxin)

BEIJING, Jan. 18 (Xinhua) -- China's automobile industry is expected to witness a higher concentration amid the accelerating cross-industry integration this year, the Xinhua-run Economic Information Daily reported on Monday. 

China's internet giant Baidu has recently announced to establish a smart car company, which will enable it to be a vehicle manufacturer. 

So far, Baidu has cooperated with more than 70 automobile companies in more than 600 vehicle models including family cars and self-driving buses. Baidu's entry into the vehicle manufacturing field can be seen as a further extension of its artificial intelligence (AI) strategy in the field of smart travel, and a supplement to the smart travel industry chain, said the report. 

Zhangjiang High-tech Park in Shanghai's Pudong New Area and e-commerce giant Alibaba Group also invested in a car company led by the leading Chinese automaker SAIC Motor. 

The new round of cross-industry integration in domestic automobile industry focuses more on the complementary advantages between enterprises and the integration of industrial chains, which will promote the automobile industry to continuously upgrade in terms of technology and quality, and further increase the industry concentration, said experts. 

According to the China Association of Automobile Manufacturers (CAAM), the automobile sales in China stood at 25.311 million units in 2020, a year-on-year decrease of 1.9 percent. However, the sales of new energy vehicles (NEVs) hit a record high at nearly 1.37 million, an increase of 10.9 percent year-on-year.

Despite the fallout of the COVID-19 in 2020, the domestic automobile industry still achieved good performances last year, indicating that the Chinese auto market, especially the NEV market, maintained great development potential, said the report. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)

Scan the QR code and push it to your mobile phone

Keyword: NEV auto industry

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial