Xiaomi founder, chairman, and CEO Jun Lei announced on December 25, 2024, that the company's automotive division has partnered with Nio, XPeng, and Li Auto to integrate their charging networks. The collaboration will add over 10,000 charging stations to Xiaomi's charging map.
China's electric vehicle (EV) industry has endured a two-year price war, leading to significant profit compression across the supply chain. Automakers have slashed costs to defend their market share, but this strategy has intensified upstream financial strain. Suppliers face cash flow crises, disrupting component stability and driving up costs, creating a self-perpetuating cycle of instability.
Contemporary Amperex Technology Co. Ltd. unveiled a new car chassis with an integrated battery strong enough to withstand fires or explosions from high-impact collisions.
BYD Co. has severed ties with a construction firm after Brazilian authorities halted construction of a new electric-vehicle plant where workers were found working and living in "slavery"-like conditions.
World Known Precision Industry (WKPT), Taiwan's largest supplier of metal-processed parts for commercial vehicles, is advancing its global footprint with new plants in the US, Taiwan, and China. At a recent earnings call, Chairman Kevin Lu outlined plans to gradually transform WKPT from a traditional machining specialist into a key player in the electronics supply chain.
The accelerating penetration of automotive electronics is driving a technological revolution in the global automobile industry, with thermal management systems playing a pivotal role. King Shing Industrial, a leading supplier of automotive cooling fans and air-conditioning blowers, has announced its strategy to expand from the aftermarket (AM) segment into original equipment (OE).
Rising vehicle age and repair costs in the US, the world's largest automotive aftermarket (AM) service and repair market, have created substantial opportunities for Taiwan's auto parts industry. The combination of increasing car loan interest rates and aging vehicle fleets has generated strong demand for AM parts, strengthening operations across the supply chain.
Global auto parts makers are grappling with a paradox: While vehicle sales continue climbing, their order books are shrinking. The culprit? A dramatic shift in inventory management by automakers, who've slashed safety stock requirements from 60-90 days to as little as 14 days, signaling growing caution about market conditions.
Taiwanese automotive electric firm Cub Elecparts expects 2024 profits to match last year's figures, while forecasting substantial growth in 2025 driven by its electronics and tire pressure monitoring systems (TPMS) business, according to company chairman SC Yu. Beyond its core products, the company has initiated small-scale production of new offerings, with future growth primarily centered on mmWave radars for advanced driver assistance systems (ADAS), spherical TPMSs, and smart security systems.
Amid shifting dynamics in the power semiconductor market, Onsemi is leveraging China as a key growth driver for its dual focus on automotive electrification and AI data centers. Celebrating its 25th anniversary, the company is laying the groundwork for long-term growth.
Chinese automakers, led by BYD, are leveraging hybrid electric vehicles (HEVs) to strengthen their foothold in the European market, where the European Union's (EU) increased tariffs on Chinese-made electric vehicles (EVs) notably exclude HEV systems.
Global automotive sales, including new energy vehicles (NEVs), are projected to underperform initial expectations in 2024, yet the market maintains an upward trajectory. Facing growing uncertainties in 2025, Taiwanese supply chain firms are leveraging diversified strategies—spanning traditional vehicles, NEVs, and global markets—to capitalize on emerging opportunities.
Jiyue Auto, the automotive startup co-founded by Baidu and Geely, is on the brink of collapse. CEO Joe Xia, in a letter to employees dated December 11, admitted the company faces severe challenges and requires urgent restructuring. Reports indicate that salary benefits for some employees have been suspended, fueling fears of widespread layoffs.
Global EV battery demand outside China increased by 12.7% from January to October 2024. South Korea's top battery makers—LG Energy Solution (LGES), SK On, and Samsung SDI—recorded growth in battery installations during this period.
Taiwan-based Hiroca Automotive Trim Corporation, a supplier of automotive interior and exterior trim parts, is actively diversifying its operations to reduce dependence on the highly competitive Chinese automotive market. Through expansion into Mexico, South Korea, and Japan, the company aims to drive future growth and establish new revenue streams.
Japanese company Rohm is collaborating with French automotive component manufacturer Valeo to develop a new generation of electric vehicle (EV) components. Rohm will supply silicon carbide (SiC) power modules for Valeo's inverters, with mass production scheduled to begin in 2026.
Ams Osram saw automotive electronics account for more than 50% of overall revenue this year and expects the market to enjoy promising growth in 2025, driven by the increasing adoption of new automotive technologies.
Taiwan-based automotive aftermarket (AM) parts manufacturers continue to dominate the global supply chain, holding an impressive 90% market share. Despite a slowdown in overall car market growth worldwide, these manufacturers have sustained stable revenue growth throughout 2024, driven by the increasing adoption of AM parts by major insurance companies such as State Farm and the rising average vehicle age in the US.
Feng Ching Metal Corp., a Taiwanese manufacturer specializing in enameled and other insulated wires, anticipates stable sales growth in products catering to emerging energy applications, including AI data centers and electric vehicle (EV) wireless charging systems. According to company president Hsin-yu Chen, these trends are driving demand for high-performance insulation solutions.
Taiwan-based protective component manufacturer Polytronics reported a record high in revenue and gross margin for the third quarter of 2024, driven by increased demand for components. The company is set to venture into the semiconductor market in 2025 and expand its thermal substrate products into power supply and defense applications.
Automotive component manufacturer Global PMX is cautiously optimistic about its automotive business outlook in the fourth quarter of 2024 and the first half of 2025 thanks to orders for new energy vehicle (NEV) components from China and the US.
Chinese semiconductor exports are projected to exceed CNY1 trillion (US$30.8 billion) in 2024, having already reached CNY931.17 billion in the first 10 months of the year.
EV charging specialist Zerova, a subsidiary of power supply maker Phihong Technology, expects performance in 2024 to remain roughly on par with 2023, but is eyeing a 20% increase in revenue next year as demand continues to grow in Asia and Europe, while the situation in North America will depend on Donald Trump's policies once he takes office, says company chairman Alex Lin.
Major tier-1 automotive suppliers in Europe and the US are conducting layoffs amid disappointing electric vehicle (EV) demand, potentially creating opportunities for their Asian counterparts in the automotive electronics electrification market.
