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ASEAN deployment of Chinese automakers

Staff writer
Staff writer
Chinese automakers are keenly deploying in the EV markets of ASEAN, with local manufacturing and supply of key components playing a crucial role in their success.
Abstract

China's automobile exports continued to outpace Japanese automakers in the first half of 2024, with its electric vehicle (EV) shipments surpassing one million units and comprising 37% of its total car exports. This performance highlights the growing strength of China's EVs in the global automotive market.

Asia has long been a critical market for Chinese automakers, accounting for over 40% of China's EV exports. However, with the European Union imposing temporary tariffs on Chinese EV imports, Chinese automakers are expected to expand their presence in Southeast Asia, where the EV market is still in its early stages, according to DIGITIMES Research.

Thailand, Indonesia, and Malaysia are the top three car markets in the Association of Southeast Asia Nations (ASEAN), thus becoming the target markets for Chinese EV exports. Thailand, as the leading EV market in the region, saw its EV penetration rate exceed 10% for the first time in 2023, with Chinese brands commanding nearly 80% of the market.

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Published: October 7, 2024

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