Chinese OEMs Competitive Benchmarking

According to a research report "Chinese OEMs Competitive Benchmarking Report Covers the Major Chinese Passenger Vehicle Manufacturers and Their Strategies on Electric Vehicles (EVs), Innovations In Battery Technology, Platforms, Powertrains, Connected Vehicles, Autonomous Technologies - Geographical Expansion and Their Plans till 2030" published by MarketsandMarkets, the Chinese automotive industry sales (PV+CV) were 30.1 million units in 2023, estimated to reach 31.4 million units in 2024 and are expected to reach around 38.2 million units by 2030 at a CAGR of 3.5%.

Browse 10 market data Tables and 10 Figures spread through 93 Pages and in-depth TOC on "Chinese OEMs Competitive Benchmarking Report Covers the Major Chinese Passenger Vehicle Manufacturers and Their Strategies on Electric Vehicles (EVs), Innovations In Battery Technology, Platforms, Powertrains, Connected Vehicles, Autonomous Technologies - Geographical Expansion and Their Plans till 2030"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/chinese-oems-competitive-benchmarking-101225973.html

The growth of the Chinese automotive industry is influenced by various factors, such as the adoption of electric vehicles, the development and manufacturing of long-range batteries, the installation of fast and ultra-fast charging points, the introduction of autonomous vehicles, the deployment of 5G connectivity, and geographical expansions.

Chinese OEMs have invested in future technologies with a plan to cut down manufacturing costs, streamline the supply chains across all the major car technologies, and increase their share in the global market by launching vehicles that are cheaper than foreign OEMs.

“Chinese OEMs are anticipated to witness significant growth in the EV segment.”

The Chinese OEMs are focused on the EV market. They dominate the market worldwide. Major companies operating in the EV sector are BYD, Geely, Chery, Changan, SAIC, and Great Wall Motors. These OEMs have large volume of car production, sales and exports. These OEMs consisted of close to 43% of domestic passenger vehicle sales in 2023. Alongside, there are several new entrants in the market, such as Nio, Li Auto, Xpeng, Leapmotors, and Xiaomi, that are focused on connected and autonomous cars. BYD aims to become a world leader and capture the highest share of the EV market globally. They have already discontinued manufacturing of ICEs in March 2022. Moreover, the Chinese OEMs are keen on targeting vertical integration in the supply chain to dominate the battery, SDV, and ADAS technology. Moreover, the Chinese OEMs are focused on developing batteries with long-range. The OEMs other than Chinese OEMs that have a prominent presence in the global EV market are Tesla and Hyundai-Kia.

“Strategies to cutdown manufacturing prices is the ultimate target of the Chinese OEMs”

The Chinese cars are economical compared to their competitors from the Japanese, South Korean, European, or US markets. The cost difference plays a prominent role in the adoption of EVs in the global market. An EV manufactured by non-Chinese OEMs costs 30-50% higher than that of a Chinese OEM. Despite the current low cost, the Chinese OEMs are focused on integrating the supply chain, majorly that of the batteries, where the price of battery material and cell production will decrease. The focus of these OEMs is to target the larger customer base globally. Moreover, some additional taxes can probably be imposed by the US and EU on the vehicles produced by the Chinese OEMs. This will lead to an increase in the prices of these cars. However, successful integration of the supply chain can bring down the manufacturing cost of the vehicles and lead to compensation for the additional taxes that could be imposed. This will allow the Chinese OEMs to still offer their cars at competitive prices in the foreign market. In addition, integration of the supply chain will lead to maximizing profits.

Key Players

The top Chinese OEMs in the market are BYD, Company Ltd., Geely Group, Chery Automobile, Changan Group, SAIC, Great Wall Motor, Nio, XPeng, Li Auto, Leapmotor, Xiaomi, etc. The other companies that support the Chinese automobile industry with technology development are Baidu, ecar, Neusoft, Alibaba, Tencent, CATL, Gotion, CALB, SVOLT and others. These Chinese OEMs have adopted new product launches, acquisitions, partnerships, collaborations, and other key strategies to gain traction in the global automotive market.

Don’t miss out on business opportunities in Chinese OEMs Competitive Benchmarking Industry. Speak to our analyst and gain crucial market insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103,
Delray Beach, FL 33445
USA : 1-888-600-6441
[email protected]