Chinese EV makers pressed to accelerate global expansion amid tariff challenges
Companies should balance exports and overseas production while seeking to achieve win-wins with foreign partners, former vice-minister says
The country’s auto industry is still in the early stages of globalisation, as brand recognition remains low and carmakers lack overseas experience to react to the changing trade environment, keynote speaker Su Bo, former vice-minister of China’s Ministry of Industry and Information Technology, said at the China EV100 Forum in Beijing.
The companies should balance exports and overseas production while seeking more diversified and innovative approaches to avoid potential policy risks and achieve a win-win with foreign partners, he said.
“The accelerated transformation in the global auto and transport sector has provided ample room for Chinese EVs to enter overseas markets,” Su said. “It’s important to focus equally on export trade and localised development abroad.”