Frankfurt Auto Show 2024: Chinese Electric Vehicle Manufacturers and Parts Suppliers are actively participating

Source: Gasgoo

According to Reuters, at the 2024 Frankfurt Auto Show in Germany (Automechanika), nearly 900 Chinese auto parts suppliers and several electric vehicle manufacturers appeared. China’s auto industry is pushing through trade barriers to expand its global reach.

Image Source: Automechanika

The Frankfurt Auto show usually focuses on auto parts suppliers, but this year’s show included a special “electric car show” created in conjunction with the China Council for the Promotion of International Trade. Chinese automakers such as BYD, Geely Automobile, Hongqi Automobile and GAC International all displayed their vehicles at the show, which can be said to be an additional highlight and feature of this year’s Frankfurt Auto Show.

 

Geely Auto Group was the only automaker to hold a press conference at the Auto show in Frankfurt, Germany. Yang Xueliang, senior vice president of Geely Auto Group, said: “Even if some people in Europe oppose us, we will never be the enemy of the European market. Only by working together can the auto industry become stronger.”

 

In the first half of this year, Geely sold about 200,000 vehicles in Europe, according to Mr. Yang. Under the Commission’s current plan, Geely will face additional import duties of up to 19.3 percent, which the company had previously described as “disappointing.”

 

China’s auto industry is investing heavily in overseas expansion just as Europe and North America are erecting trade barriers and imposing tariffs on Chinese-made electric vehicles to keep them out of the market.

 

Olaf Musshoff, director of the Frankfurt Auto Show in Germany, said at a press conference: “We hope that the electric vehicles produced by Chinese automakers will gain the broad trust of the automotive industry.” Chinese carmakers’ market share of passenger cars in Europe rose to 17 per cent in the first seven months of this year from 12 per cent in the same period last year, according to Inovev, an automotive consultancy, as Chinese car exports also hit a record.

 

As more Chinese automakers plan to localize production in regions such as Europe to avoid trade tariffs, the number of Chinese auto parts suppliers at the Frankfurt Auto show in Germany is almost double that of German suppliers, underscoring China’s growing role in the global auto supply chain.

 

A study published this month by PwC warned that a focus on cost-effectiveness and reduced access to capital is making it harder for German auto parts suppliers to invest in innovative technologies. By contrast, Chinese companies are more likely to invest in improving batteries and software to win market share from German and Japanese rivals.

 

However, Frank Schlehuber of CLEPA, the European auto suppliers association, said the scale and scope of the Frankfurt auto show, which attracted 4,200 companies from more than 170 countries, showed that Europe also remained a core force driving innovation in the auto industry.

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