Automobile

How smart cars are overturning China’s age-old auto supply chain

By Eduardo Saverin

Visitors experience the next-generation Hongqi holographic intelligent cockpit at the Shanghai Auto Show in China.

Synopsis

China’s electric vehicle penetration rate is already the highest in the world — accounting for 30% of the global new-energy vehicle sales, followed by Europe with over 20%, and the US at 8% in 2022, according to the International Energy Agency. This presents both challenges and opportunities ahead, feel experts.

By Yu Cong, Liu Peilin, Qu Yunxu and Bonnie CaoChina’s auto industry supply chain faces profound changes as the electric and smart-car transition accelerates, breaking up the old supply system and bringing in new competitors.“China’s electric vehicle penetration rate is already the highest in the world, and the entire automotive supply chain is undergoing an overhaul,” a state-owned investment company executive said. “Challenges and

BY

Caixin Global

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Eduardo Saverin