Chinese electric vehicles see more sales in developing countries

Developing countries have more potential to increase their adoption of Chinese-made electric vehicles once they expand their associated infrastructure in the years ahead, said a senior foreign business leader.

Speaking at its booth during the ongoing 2024 Beijing International Automotive Exhibition, David Slump, president and CEO of Marelli Holdings Co Ltd, an Italian-Japanese mobility product supplier to the automotive industry, said that the company can ride China's electric vehicle wave by supplying products from automotive lighting and electronics to software solutions to its partners in the country.

Dismissing some Western nations' "China overcapacity" narrative, Slump said that China, recognized globally as a major EV market and home to some of the world's leading EV manufacturers, will create substantial opportunities for global companies aiming to sustain robust growth in this burgeoning sector.

Eager to cut carbon emissions, many countries are building infrastructure such as charging facilities, battery swap stations and capable grid systems to facilitate their consumers driving EVs on the road, he added.

To stay competitive, Marelli will expand its engineering team in China from 800 to 1,000 soon to meet its surging demand for innovation.

As China embarks on a new phase of growth focused on sustainability and innovation, Slump said the group will deploy more resources to develop greener and artificial intelligence-related products for the Chinese market in the coming years.

With around 50,000 employees, Marelli's footprint includes 170 facilities and research and development centers across the world.

The company also ships products manufactured in its plants in China to other parts of the world, including Mexico, Thailand and Germany.

According to data from the Beijing-based China Association of Automobile Manufacturers, local and international automakers in China manufactured a record 30.16 million vehicles last year. They also delivered 30.09 million units, another record, marking year-on-year increases of 11.6 percent and 12 percent, respectively.