30/12/2024
China's thriving new energy sector is having a profound impact on the global economy, with the country's expertise and innovation in the field attracting significant investment from abroad.
According to experts, China's growth in the new energy sector is not only driving domestic development, but also creating opportunities for collaboration and cooperation with other countries. Thailand, for example, is working with Chinese automakers to establish an electric vehicle supply chain, with several major Chinese companies, including SAIC, Great Wall, and BYD, already setting up factories in the country.
This influx of Chinese investment is not only bringing in new technology and expertise, but also creating jobs and driving economic growth in Thailand. As Surasit Thanadtang, director of the Thai-Chinese Strategic Research Center, notes, Thailand is "tapping into China's knowledge and technical expertise to bolster its own electric vehicle sector, drive technological advancements, and generate employment opportunities".
China's open-door policy in the new energy sector is also attracting multinational companies, with Tesla's Shanghai plant being a prime example. Since its launch in 2019, the facility has become one of the most efficient vehicle factories in Tesla's global network, producing over 947,000 vehicles in 2023 and accounting for more than half of the company's global deliveries.
Other major automakers, including Mercedes-Benz, Volkswagen, and BMW, are also investing heavily in China's new energy sector, with a focus on intelligent innovation and expanding their production and innovation centers. As Xu Daquan, president of Bosch China, notes, "In the past, it was often said that China needs Bosch and its innovative technologies for the development of the country's automotive industry. But today, the narrative has shifted: Bosch also needs China".
This shift in the global landscape is a testament to China's growing expertise and influence in the new energy sector, and is likely to have significant implications for the future of the industry. As China continues to drive innovation and growth in the sector, it is likely to remain a major player in the global economy for years to come.
