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

German carmakers eye increased, deeper NEV cooperation with China

September 30, 2024


Abstract : German carmakers have expressed optimism about cooperation with China in the new energy vehicle (NEV) industry when speaking at the 2024 World New Energy Vehicle Congress which concluded Sunday in Haikou, capital of south China's Hainan Province, with China's NEV market continuing to boom.

a95340296a924866bee3bd05f266ffd7.JPEG

This photo taken on April 26, 2024 shows a BMW electric vehicle displayed at the signing ceremony for deepening strategic cooperation between BMW and Shenyang, in Shenyang, northeast China's Liaoning Province. (Xinhua/Pan Yulong)

HAIKOU, Sept. 29 (Xinhua) -- German carmakers have expressed optimism about cooperation with China in the new energy vehicle (NEV) industry when speaking at the 2024 World New Energy Vehicle Congress which concluded Sunday in Haikou, capital of south China's Hainan Province, with China's NEV market continuing to boom.

Jochen Goller, a member of the board of management of BMW AG, credited the success of China's NEV market to supportive government policies, suitable regulations and technological innovations.

Goller emphasized BMW's commitment to keeping the market open and expressed hopes of having more Chinese battery manufacturers in Europe.

Oliver Blume, chairman of the board of management of Volkswagen AG, noted that this year marks a significant milestone as Volkswagen celebrates 40 years in the Chinese market.

"Over the past four decades, we have taken great pride from having become an integral part of Chinese life and in shaping the development of the Chinese automotive industry," Blume said, while highlighting that the foundation of Volkswagen's success lies in its strong partnerships -- particularly with Chinese EV companies like SAIC and FAW.

Blume added that China has emerged as "the epicenter of the automotive industry's future," while Volkswagen is committed to being an even more integral part of the local industry ecosystem.

"We have significantly enhanced our local research and development capacities and concluded partnerships with local original equipment manufacturers and technology leaders in the fields of software, autonomous driving and batteries," he explained.

5e3baa21b8c54063b01bce7154d82d31.JPEG

An aerial drone photo taken on Aug. 20, 2023 shows a view of Volkswagen (Anhui) Automotive Company Limited in Hefei, east China's Anhui Province. (Xinhua/Guo Chen)

In April, Volkswagen announced an investment of 2.5 billion euros (about 2.79 billion U.S. dollars) in expanding its production and innovation hub in the city of Hefei in east China -- to increase its pace of innovation in the country.

The company also committed to accelerating the production of two Volkswagen-brand smart electric vehicles, which are currently under joint development with Chinese manufacturer Xpeng.

China's production and sales of NEVs continued to maintain fast growth, with the NEV market share steadily increasing in the domestic market.

Data from the China Association of Automobile Manufacturers revealed that in the first eight months of 2024, NEV production had reached about 7.01 million units, rising 29 percent year on year, while sales during this period stood at around 7.04 million units -- growing by 30.9 percent from a year earlier.

Wan Gang, chairman of the China Association for Science and Technology, said that expanding bilateral trade cooperation and investment, along with increasingly close industrial and supply chain collaboration between the Chinese and German automotive industries, have become vital for the high-quality development of the global automotive sector.

"In the future, we hope that the automotive industries of China and Germany will embrace development and reform, jointly promoting the further advancement of the NEV industry to contribute to global low-carbon transformation and sustainable development," Wan added.

Scan the QR code and push it to your mobile phone

Keyword: China-Germany NEV

Most Read

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