Recently, according to the 2024 Top 100 Global Auto Parts Suppliers list released by Automotive News, the Chinese company CATL rose one place to fourth place with a revenue of 41.365 billion US dollars in automotive business, replacing Denso, a Japanese company that has long occupied the first place in Asia, and becoming the largest auto parts company in Asia.
This indicates that in the context of the rapid development of new energy vehicles, Chinese companies are gradually catching up with Japanese companies and becoming the new leaders in the global auto parts supply chain.
With the rapid development of new energy vehicles, the global automotive industry is undergoing profound changes. The wave of electrification and intelligence has swept the world, forcing traditional auto parts companies to accelerate their transformation.
As a leading traditional auto parts company, Denso was forced to divest its traditional fuel pump and other businesses in the face of the impact of new energy vehicles on its business, and at the same time increased its layout in the fields of batteries, motors, and electronic controls.
At the same time, Chinese companies have risen rapidly by virtue of their leading advantages in the field of core components of new energy vehicles such as batteries and motors.
As the world's largest supplier of power batteries, CATL has ranked first in terms of installed capacity and market share for many years, becoming the biggest winner in the global electrification wave. This indicates that China is gradually replacing Japan as the main supplier of new energy components for the global automotive industry.
Although Chinese companies such as CATL have taken the lead in the field of new energy, they still face many challenges to become global leaders in the auto parts industry.
First, there is still a gap in core technological innovation capabilities. Chinese enterprises mainly rely on large-scale production to achieve scale advantages, but there is still a certain gap with Japan, Germany and other world-class enterprises in terms of core technologies such as battery electrochemistry and electronic control algorithms. This requires independent innovation to enhance core competitiveness.
Second, the supporting capacity of the industrial chain needs to be improved urgently. High-quality parts not only need the technological innovation of core enterprises, but also need the cooperation and support of upstream and downstream industry chain enterprises. This requires strengthening the cooperation of the industrial chain and improving the overall quality level.
Third, the brand influence needs to be improved. There is still a certain gap between Chinese companies and Japanese companies in terms of brand awareness and reputation in the world. This requires strengthening brand building and establishing a high-quality international brand image.
Fourth, the expansion of the international market needs to be accelerated. Chinese companies mainly rely on the domestic market to achieve scale, but the rapid popularization of new energy vehicles needs to open up the markets of developed countries in Europe and the United States. This requires localized operations according to the standards and business models of different countries.
If they can continue to make progress in these aspects, Chinese companies are expected to achieve more first-mover advantages in the transformation of new energy vehicles, accelerate the catch-up with traditional powers such as Japan, and become a global leader in the auto parts industry.
As the largest auto parts company in China and even in Asia, CATL is accelerating its progress to become a world-class enterprise through three major measures: independent innovation, cooperation with international giants, and expansion of investment.
The first is to increase independent innovation. CATL has mastered the core technology in the field of power batteries, and in recent years, it has continued to increase R&D investment, focusing on breakthroughs in key technologies such as battery performance, safety, life, and cost, and has begun to lay out cutting-edge fields such as battery recycling.
The second is to reach strategic cooperation with international giants. CATL has reached long-term cooperation with the world's top car companies such as Ford, Fiat Chrysler, BMW, and passenger car joint ventures, which is conducive to improving their product quality and brand influence.
The third is to vigorously increase the global investment layout. CATL has built a number of intelligent buildings at home and abroad, and set up R&D centers in North America, Europe and other places.
Its €7 billion investment in Hungary to build Europe's largest battery plant will significantly increase its market share in Europe.
It is foreseeable that under the rapid development of new energy vehicles, CATL is expected to continue to maintain its leading position in the industry and accelerate its progress towards the world's No. 1 battery giant by virtue of its technical strength and large production capacity. This will also promote the overall development and progress of China's auto parts industry.
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