China’s automotive industry has grown by leaps and bounds over the past few decades, and it’s no secret that the nation has become the largest car market in the world. This comprehensive article will explore the fascinating world of Chinese car manufacturers.
We’ll provide you with a list of all the prominent Chinese car brands, detailing their origins, key highlights, and current position in the global market. Additionally, we’ll explore the foreign manufacturer joint ventures in China and discuss the future trends in the Chinese automotive industry. So, fasten your seatbelts, and let’s embark on this journey into the world of Chinese cars.
List of Chinese Car Manufacturers
China has set several records as the world’s largest car market, and its indigenous automotive industry is critical to this success. Here’s an overview of the key Chinese car manufacturers and their contributions to the automotive world:
FAW
(
First Automobile Works Group Corporation
, Chinese: 第一汽车集团)
FAW Cars, while not a household name in South Africa, is one of China’s oldest car manufacturers. Founded in 1953, FAW, or First Automotive Works, has a rich history. They started with commercial trucks in 1956 and introduced passenger cars in 1958, making them China’s first manufacturer.
Today, FAW is one of China’s “Big Four” automakers, competing with Dongfeng Motors, SAIC Motors, and Changan Automobile. In 2014, they produced 2.7 million vehicles, ranking third in China. FAW’s international collaborations include a joint venture with Volkswagen in 1990 and partnerships with other foreign companies.
In 1992, they changed their name to China FAW Group Corporation, and in 2002, they acquired 50% of Tianjin Automotive Xiali, leading to a partnership with Toyota. By 2009, FAW became China’s second-largest vehicle manufacturer and the world’s largest automobile producer and machinery corporation. They continued to thrive, selling 2.56 million vehicles in 2010 and becoming China’s third most productive automaker.
Information FAW’s success is evident in its 2011 production of 2.6 million vehicles, maintaining the third-largest output in China. While their production dipped slightly to 2.3 million vehicles in 2012, passenger cars accounted for 64% of their total production that year.
Dongfeng
(
Dongfeng Motor Corporation
, Chinese:东风汽车公司)
Dongfeng Motor Corporation, headquartered in Wuhan, Hubei, China, is a prominent state-owned automobile manufacturer with a rich history dating back to its founding in 1969. As one of China’s “Big Four” state-owned car manufacturers, it is the third largest, with impressive car sales figures.
Information In 2021, the company achieved sales of 5.37 million vehicles, reflecting its substantial presence in the automotive industry.
Dongfeng Motor Corporation operates under a diverse portfolio of domestic and international brands. Their lineup includes names like Venucia, Fengdu, Voyah, Aeolus, and Forthing, and they also collaborate with foreign automakers through joint ventures like Dongfeng-Honda, Dongfeng-Nissan, and Dongfeng-Peugeot Citroën. Notably, in 2021, a substantial 79% of their sales comprised foreign-branded cars, highlighting their global reach.
The company is not limited to vehicle manufacturing; it also produces electric vehicles under various brands, including dedicated EV brands such as Voyah. In addition to vehicles, Dongfeng engages in parts manufacturing and cooperates with foreign companies on various projects.
Dongfeng Motor Corporation, initially a small village operation, has become a significant player in China’s automotive industry. Its journey from commercial to passenger vehicles, along with a robust international presence, reflects remarkable adaptability. Operating as a state-owned enterprise, it falls under the governance of China’s SASAC, following national regulations.
Changan
(
Chang’an Automobile Group
, Chinese: 重庆长安汽车股份有限公司)
Chana, formerly known as Chang’an Automobile, is a Chinese automaker headquartered in Chongqing, China. It’s a state-owned company and is listed on the Shenzhen stock exchange. The company traces its origins back to 1862 when Li Hongzhang established the Shanghai Foreign Gun Bureau.
Information Chana manufactures passenger cars, small vans, light trucks, and commercial vans and buses.
Their passenger cars are sold under the Chang’an brand, while commercial vehicles are marketed under the Chana brand. Despite car companies seeming relatively new, Chana has a long history in China and is considered one of the “Big Four” Chinese automakers. They have notable joint ventures with well-known automakers like Mazda, Ford, Suzuki, and PSA, producing vehicles specifically for the Chinese market.
In 2009, Chana acquired two smaller companies, Hafei and Changhe. In 2010, it ranked as China’s fourth most productive car manufacturer, building over 2 million vehicles in 2011. By 2012, a significant portion of their production was dedicated to passenger vehicles, with 72% allocated to this segment.
Changan SA had ambitious plans in 2009 to invest $80 million in South Africa, including the construction of a manufacturing plant with a capacity of over 50,000 vehicles per year. However, in 2012, Changan South Africa faced final liquidation in the South Gauteng High Court.
SAIC
(
Shanghai Automotive Industry Corporation
, Chinese:上海汽车集团股份有限公司)
SAIC Motor Corp is a prominent Chinese auto manufacturer with a history dating back to 1955 in Shanghai. It started small but expanded through strategic partnerships with Western automakers, such as Volkswagen, in 1985, which granted access to foreign technology and rapidly increased annual production to 300,000 units.
This growth made SAIC one of China’s top automobile manufacturers. In 1998, another joint venture with General Motors doubled their production capacity. Today, SAIC is state-owned and part of the Fortune 500, maintaining its position as China’s leading auto manufacturer for over a decade. In 2015, they achieved a significant milestone by selling 5.9 million vehicles, a 5% increase from the previous year. This success of the auto group was further highlighted when SAIC moved up 25 places in the Fortune Global 500 list, reaching the 60th position.
In addition to manufacturing vehicles, SAIC also produces crucial components like engines, transmissions, and powertrains. They even have a design and development center in Birmingham, United Kingdom.
Information Some affiliated companies include Morris Garages, SAIC Volkswagen, SAIC-GM, SAIC MAXUS, NAVECO, Shanghai General Motors Wuling (SGMW), SAIC-IVECO Hongyan, and Shanghai Sunwin Bus Corp (SUNWIN).
Chery
(
Chery Automobile
,
Chinese
: 奇瑞汽车股份有限公司)
Chery, a Chinese automaker, was established in 1997 by the Chinese government and is based in Wuhu, Anhui Province, China. They manufacture passenger cars, minivans, and SUVs under the Chery brand, while their commercial vehicles are produced under the name Karry. Car production began in 1999, with exports starting in 2001, and Chery has been China’s leading passenger vehicle exporter since 2003.
In 2011, Chery exported about a quarter of its total production. They also entered into partnerships, including a 50:50 joint venture with Kenon Holdings, Qoros, in 2007 and another 50:50 joint venture with Jaguar Land Rover in 2012. These collaborations aimed to create premium vehicles for emerging markets and to manufacture Jaguar and Land Rover vehicles in China.
Chery has numerous manufacturing plants across China for vehicle assembly and component production. They also assemble Chery for vehicles manufactured in nearly 15 countries through complete or semi-complete knock-down kits. About 7% of their revenue is allocated to product development, managed by their two domestic R&D centers.
In the early 2000s, General Motors accused Chery of infringing on its intellectual property rights. Additionally, in 2003, Chery had a dispute with Volkswagen over the use of tools from an old Volkswagen factory to produce a model resembling the Volkswagen Jetta.
Information The first car Chery produced was the Fengyun, based on a chassis licensed from the Volkswagen Group’s SEAT Toledo. This model achieved sales of around 30,000 units.
GAC
(
Guangzhou Automobile Group
, Chinese: 广州汽车集团股份有限公司)
Guangzhou Automobile Group Co., Ltd. (GAC Group) is a prominent Chinese state-owned automotive manufacturer based in Guangzhou, Guangdong. Established in 1954, it has grown to become the fifth-largest automobile manufacturer in China, achieving significant success with 2.144 million sales in 2021.
GAC Group is known for producing a wide range of vehicles under various brand names, both domestic and in partnership with foreign brands. Their own brands include Trumpchi, Aion, and Hycan, with a strong focus on electric vehicles, featuring dedicated EV brands like Aion and Hycan. Additionally, the company has joint ventures with major foreign automakers such as GAC-Toyota, GAC-Honda, and GAC-Mitsubishi, expanding its reach in the Chinese market.
GAC Group’s commitment to electric mobility is evident in its substantial market share in the plug-in electric vehicle segment. They sold over 123,660 EV units in 2021, and with plans to double their EV production capacity to 400,000 units annually by December 2022, they are poised for further growth in the electric vehicle market.
The company’s history of expansion and innovation underscores its pivotal role in shaping the automotive industry in China and beyond.
Information GAC Group is on a mission to drive the future of transportation with a strong emphasis on cutting-edge electric and hybrid technologies.
BAIC
(
Beijing Automotive Industry Corporation
,
Chinese
: 北京汽车工业控股有限责任公司)Great Wall Motors
BAIC Motor Corporation, a Chinese automaker established in 1968 and headquartered in Beijing, is a subsidiary of the BAIC Group. Their journey began with the introduction of the “Jinggangshan” sedan in 1958, marking the start of vehicle production in Beijing. In 1966, they independently designed and produced the BJ212 off-road vehicle.
In 1983, they made automotive history with the first Sino-foreign joint venture by partnering with American Motors Corporation to create Beijing Jeep Corporation. In 2003, BAIC Group entered into a strategic cooperation agreement with DaimlerChrysler AG. They further expanded their collaboration with Daimler AG in 2015 by taking a 35 percent stake in Mercedes-Benz Leasing.
BAIC Group reached a significant milestone in 2009 when they celebrated one million vehicles produced and sold, with annual sales revenue exceeding 100 billion yuan. In the same year, they acquired the intellectual property rights of Sweden’s SAAB Automobile Company.
Information Their achievements led them to be ranked among the Fortune 500 companies, reaching 336th place in 2013 and rising to 248th position in 2014. Their total revenue in 2014 was $43,323.9 million.
JAC
(
Jianghuai Automobile Corporation
,
Chinese
: 安徽江淮汽车股份有限公司)
JAC Motors, officially known as Anhui Jianghuai Automobile Co. Ltd., is a prominent Chinese automotive manufacturer based in Hefei, Anhui, China. It originated as the Hefei Jianghuai Automobile Factory in 1964 and adopted the name Anhui Jianghuai Automobile Co. Ltd. in 1997. By 2001, it became a listed company on the Shanghai Stock Exchange.
Initially recognized for its commercial trucks, JAC expanded its product range to include MPVs and SUVs in the 2000s. In 2007, the Chinese government granted JAC approval to produce passenger cars.
Information JAC collaborated with Hyundai Motor Company in the early 2000s to diversify its offerings.
In 2009, there were discussions about a potential merger between JAC and Chery, as they were both located in the same province. JAC was focused on trucks, while Chery dominated the passenger car market. However, JAC expressed no interest in consolidation.
JAC Motors shifted its focus towards passenger cars and initiated an electric vehicle program in 2010. Their product line is comprehensive, encompassing light, medium, and heavy-duty trucks, MPVs, SUVs, sedans, bus chassis, buses, engineering machinery, engines, gearboxes, and other components. With an annual production capacity of over 700,000 units, JAC Motors ranks among the top 10 Chinese auto brands.
BYD
(
BYD Auto,
Chinese
: 比亚迪汽车)
BYD Auto, the automotive subsidiary of Chinese multinational BYD Co. Ltd., has established itself as a leading player in the global automotive industry. Founded in 2003 after the acquisition of Qinchuan Automobile Company, BYD Auto’s product range includes passenger cars, buses, trucks, electric bicycles, forklifts, and electric vehicle batteries.
Information Notably, the company produces both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
In June 2022, BYD Auto surpassed Tesla as the world’s largest electric vehicle manufacturer, achieving remarkable sales figures. They’ve sold over 641,000 electric vehicles in the first half of 2022 and have become the first carmaker in China to produce one million new energy vehicles (NEVs) in a single year. These NEVs include BEVs, PHEVs, and fuel-cell electric vehicles (FCEVs).
BYD Auto’s global market share for plug-in electric vehicles has grown significantly, and the company is rapidly expanding into international markets, including the European Union, Southeast Asia, Oceania, and Latin America. Their electric battery division, FinDreams Battery, is a major player in the industry, focusing on lithium iron phosphate batteries.
The company’s innovative technology, such as the e-Platform 3.0, allows for impressive all-electric ranges and rapid charging capabilities, making their vehicles competitive in the fast-evolving electric vehicle market. BYD Auto’s commitment to innovation and sustainable transportation solutions has solidified its position as a leader in the industry, making it a compelling choice for eco-conscious consumers worldwide.
Geely
(
Zhejiang Geely Holding Group
,
Chinese
: 浙江吉利控股集团有限公司)
Geely’s journey began in 1986 when Li Shufu, initially a refrigerator manufacturer, decided to diversify his business ventures. It started with borrowed funds, and his refrigerator business thrived. However, as profits rolled in, he shifted his focus. In 1994, Li Shufu transitioned to motorcycle production, pioneering the introduction of scooter motors in China.
The company rapidly sold over 60,000 units in its first year and reached 200,000 sales in 1995, becoming a prominent motorcycle manufacturer. In 1997, Geely ventured into the higher education sector, establishing three privately owned colleges and universities.
Information During the same year, Geely expanded into the automotive industry, unveiling its inaugural production vehicle, the ‘Geely HQ,’ in Linhai City in 1998.
This marked the birth of “Geely Automobile Holdings Ltd” within the Geely Group and its listing on the Hong Kong Stock Exchange. As the new millennium dawned, Geely introduced the JL6360, MR7130, and MR6370 series models, which gained popularity in the Chinese market. They became the first private company recognized as an automobile manufacturer.
By 2002, there were criticisms that some Geely vehicles resembled other brands, especially in exterior design. In response, Geely adopted new technology, outsourced design, and employed reverse engineering tools to create unique models. Today, this company, initially known for making refrigerators, has evolved into one of China’s most successful automobile manufacturers.
GWM
(
Great Wall Motor
,
Chinese
: 长城汽车股份有限公司)
Great Wall Motor Co., Ltd. (GWM), founded in 1984 and headquartered in Baoding, Hebei, is a prominent Chinese privately-owned automobile manufacturer. It ranks as the eighth-largest auto manufacturer in China, with a significant achievement of 1.281 million sales in 2021. GWM is renowned for its diverse range of vehicles, marketed under various brand names, including GWM, Haval, WEY, TANK, POER, and ORA. They also produce electric vehicles under brands like ORA.
The company derives its name from the iconic Great Wall of China and is known for being China’s largest producer of sport-utility vehicles (SUVs) and pick-up trucks. In 2021, it was the third-largest Chinese plug-in electric vehicle manufacturer, with a 4% market share, offering brands such as Ora and Haval.
Great Wall Motor has a rich history dates back to the production of low-volume trucks in the early 1980s. Over the years, they diversified into passenger vehicles and became highly successful in the pick-up truck market. Notably, in 2003, they became the first private Chinese auto manufacturer to go public on the Hong Kong stock exchange.
With a global presence, Great Wall Motor has made its vehicles available in various international markets, including Europe, the Americas, and countries across Asia and Africa. They’ve continued to expand and innovate, launching new premium SUV brands like WEY and venturing into electric vehicle production.
Information Their strategic partnerships, including one with BMW for electric Mini vehicles, exemplify their commitment to sustainable and cutting-edge automotive technology.
Seres
(
Seres Group
, Chinese: 赛力斯集团)
Seres Group, formerly known as Sokon Group, is a Chinese automotive company headquartered in Chongqing, China. Established in September 1986, the company has a rich history that began with manufacturing components for household appliances and shock absorbers. Over the years, it has diversified its portfolio to include the production of cars, motorcycles, commercial vehicles, shock absorbers, and internal combustion engines.
Information Seres Group operates through its subsidiaries, including Seres, DFSK Motor, XGJAO Motorcycle, and Yu’an Shock Absorber Company.
One of its standout achievements is its collaboration with Huawei for smart electric vehicles, creating the AITO brand. The company also produces budget electric vehicles sold under the Landian brand.
Seres Group has a strong presence in the electric vehicle market, with its Seres brand gaining recognition for its innovative electric vehicles. Its Fengon brand (formerly Dongfeng Fengguang) focuses on affordable compact MPVs and SUVs. In 2022, Seres Group fully acquired both the Fengon and DFSK brands. With a history of growth and a focus on innovation in electric vehicles, Seres Group is poised to continue making its mark in the automotive industry in China and beyond.
Foreign Manufacturer Joint Ventures
To further understand the global impact of Chinese car manufacturers, we must explore their joint ventures with foreign car companies. These partnerships have expanded their market reach and facilitated the exchange of technical expertise and innovation.
Volkswagen Group and FAW: Volkswagen Group has a long-standing partnership with FAW, producing a wide range of vehicles under various brands, including Volkswagen and Audi. This collaboration has been instrumental in Volkswagen’s success in China.
General Motors and SAIC: General Motors and SAIC teamed up to form a partnership producing Buick, Chevrolet, and Cadillac cars. This partnership has significantly contributed to GM’s presence in the Chinese market.
Ford and Changan: The Ford and Changan partnership is another prime example of international collaboration in the Chinese auto industry. They have been working together since 2001, producing Ford-branded vehicles that cater to both domestic and international markets.
Nissan and Dongfeng: Nissan’s joint venture with Dongfeng has created the popular Venucia brand. This collaboration has allowed Nissan to meet the diverse needs of Chinese consumers.
BMW and Brilliance Auto: The partnership between BMW and Brilliance Auto has been a remarkable success story. They have been producing BMW vehicles in China since 2003, showcasing the potential of global cooperation.
Chinese Cars in the Global Market
The Chinese automotive industry is not just confined to its domestic market. In recent years, Chinese car manufacturers have been working hard to sell more cars worldwide in the past few years. They are no longer seen as mere imitators but as innovators, creating unique designs and technologies. Let’s explore the presence of Chinese cars on the international stage:
Geely’s Acquisition of Volvo
One of the most significant milestones in the global expansion of Chinese car brands is Geely’s acquisition of Volvo. This move allowed Geely to tap into the European market and leverage Volvo’s reputation for safety and innovation.
Electric Vehicle (EV) Dominance
China has become a leader in the production and export of electric vehicles. Companies like BYD and NIO are actively exporting their electric cars to countries worldwide. The shift towards electric mobility has provided a golden opportunity for Chinese car manufacturers.
Expansion into Developing Markets
Chinese car manufacturers are actively targeting developing markets in Asia, Africa, and South America. They offer cost-effective and reliable vehicles, making them attractive choices for consumers in these regions.
Technological Advancements
Chinese car manufacturers are investing heavily in research and development. They are integrating advanced technologies like autonomous driving, artificial intelligence, and connectivity into their vehicles, making them competitive on the global stage.
Future Trends
As we look ahead, several trends are expected to shape the future of Chinese cars:
Electric and Hybrid Vehicles
The transition to electric and hybrid vehicles will continue to gain momentum. Chinese car manufacturers are expected to lead the charge, with a strong focus on eco-friendly mobility solutions.
Autonomous Driving
China is investing heavily in autonomous driving technology. The country aims to be a global leader in this sector, and Chinese car manufacturers are at the forefront of these developments.
Connectivity
Integrating smart technologies and connectivity features will become more prevalent in Chinese cars. These innovations will enhance the driving experience and safety.
Global Expansion
Chinese car manufacturers will continue their push into global markets, aiming to become household names worldwide.
Summary
The Chinese car manufacturing industry has come a long way from its early days. Today, it is a powerhouse in the global automotive sector, with a growing presence in international markets. As it continues to invest in electric vehicles, autonomous driving, and sustainability, the future of Chinese cars looks promising. With state-owned giants and nimble private players, the whole automobile industry is a vibrant mix of innovation and tradition.
Recap of Key Points
China is the world’s largest car market.
Major Chinese car manufacturers include FAW, Dongfeng, Changan, SAIC, Chery, GAC, BAIC, and others.
Joint ventures with foreign car companies are significant in China’s automotive industry.
Chinese car brands are expanding globally, particularly in electric vehicles.
The future of Chinese cars is centered on electric and autonomous vehicles.
Final Thoughts on the Future of Chinese Car Manufacturers
The future of Chinese cars is a tale of ambition and innovation. Chinese manufacturers have rapidly evolved from producing cheap, low-quality vehicles to being global leaders in electric vehicles and advanced technologies. As they continue to invest in research and development and expand their presence internationally, Chinese car brands are poised for a bright and sustainable future in the global automotive landscape.
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List of all Chinese Car Brands
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Discover the exciting future of Chinese cars as we delve into the world of top Chinese car brands, manufacturers, and their global impact.
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China became both the world’s largest car market and producer in 2008. However few people, especially those living in developed countries, would be able to name any Chinese producers despite China exporting more cars than any other country last year. Perhaps that is down to the sheer number of companies involved in the Chinese market and the myriad of brands. We selected the top 5 companies to know, based on sales volume and market capitalization.
Klaus Paur, Managing Partner MaLogic characterizes the Chinese market as not only the most competitive but also likely the most diverse:
“Defining the top companies in the Chinese automotive market depends on the underlying perspective. Current sales numbers alone don’t tell us the whole story”.
The Chinese market is continually evolving and the last few years have seen a huge transition to what China calls new energy vehicles (NEV) an umbrella term for fully electric and plug-in hybrids. Current data indicated they made up over 35% of sales in 2023.
This Tu Le, Founder and Managing Director of Beijing-based Sino Auto Insights, believes to be an important step:
“China’s moved from subsidy-driven to market-driven, the only country in the world that can say that about EV adoption.”
In such a fast-moving market, choosing the top 5 companies is very difficult but these based on sales volume and market capitalization are the current companies to know.
Despite seemingly exploding onto the world scene overnight BYD has its origins as a battery producer founded in 1995 before beginning to produce cars in 2005. Since 2022 the company has dedicated itself to NEVs and sells cars under four brands: the mass-market BYD brand and three more upmarket brands Denza, Leopard (Fangchengbao), and Yangwang. BYD is currently the world’s fourth-largest car brand.
Le believes BYD finally found themselves in the right place at the right time:
“What’s helped BYD push themselves to the forefront of clean energy vehicles is the massive and abrupt move to clean energy vehicles in China over the last 3-4 years as well as their consistent improvement in product design and engineering quality.”
Two things set BYD apart from other producers. Firstly they are perhaps the most vertically integrated car producer anywhere in the world. The second is that not only do they develop and produce their own batteries for their cars but they supply batteries to other producers as well through BYD subsidiary FinDreams. The company’s Blade battery has enabled class-leading energy density from cheaper and supposedly safer lithium iron phosphate batteries.
According to David Zhang, a visiting professor at Huanghe Science and Technology University (Henan Province, batteries give BYD a distinct advantage:
“Having its own battery manufacturing capabilities means BYD can not only reduce car manufacturing costs but also ensure the safety of its supply chain.”
For a long time best known as the owner of Volvo, last year Geely sold 2.79 million cars. Over recent years the brand portfolio has expanded significantly and now includes many EV-dedicated marques such as Polestar, Smart, Zeekr, and Radar. The company is also behind brands such as Lynk & Co, the London taxi-producing LEVC, and has the controlling share of Proton and Lotus.
In many ways, it is the most international of all Chinese brands. According to Le:
In many ways, it is the most international of all Chinese brands. (Credit: Geely)“Geely has to be international due to the nature of its brand portfolio and the best part of Geely is that they allowed Volvo to self-manage which is now bearing fruit, with the recent years being Volvo’s most successful.”
For eighteen consecutive years, SAIC has sold more vehicles than any other automaker in China with sales of 5.02 million in 2023. For many years the volume was largely due to its joint ventures with Volkswagen and General Motors but over the last few years sales of the company’s own brands have rapidly expanded. SAIC’s own brands include MG, Roewe, IM and Maxus (LDV), and last year they made up 55% of the total with sales of 2.775 million. Furthermore, SAIC has been China’s largest car exporter for eight years, last year selling 1.208 million overseas.
Much of that success has been due to SAIC’s purchase of the formerly British MG car brand with Zhang saying:
“SAIC has become China’s largest automobile export company mainly relying on MG models. SAIC’s acquisition of MG is a huge success, as it can quickly gain access to many international markets.”
The core Changan brand has for many years been one of China’s best-selling. However, it has hardly registered with many people due to many of the sales being either in the provinces around its Chongqing base or due to many of the sales being minivans. Its joint ventures with Ford, Mazda, and formerly Suzuki have never been as successful as some other JVs.
Together with the main Changan brand, there is the Oshan brand for SUVs and MPVs. Over recent years a trio of new energy brands have emerged: Changan Nevo, Deepal, and Avatr covering everything from entry-level to premium ends of the market.
According to Le, the company is likely to gain in profile:
“We are starting to see an evolution of their brand building as they have also begun to push into EVs. They’ve quickly set up partnerships with Huawei, NIO, and CATL which has shined a spotlight on their EV brands with a few of them gaining traction in the ultra-competitive NEV market.”
While not an auto producer, CATL plays an incredibly important role in the Chinese car market thanks to it supplying around half of all battery packs used by NEVs. CATL has also been forging partnerships with producers that go far beyond a supplier relationship to shared ownership of some brands such as in the case of Avatr, where CATL has a 24% share.
CATL is already supplying producers outside China and has a factory in Germany with others under construction in Hungary and Indonesia.
The company not only dominates the EV battery supply business with a 37.4% global share in the first 11 months of 2023 but also intends to keep that dominance through innovation. Paur concludes:
“It owes its success to the reliable supply of high-quality batteries, a critical requirement for all vehicle manufacturers. Through its vertically integrated production process, it benefits from a supply chain advantage, and with its focus on R&D it is a leader in technology innovation.”