A Month of Milestones: Key Developments in the Global Automotive Industry
November and December 2024 were marked by significant strides in the global automotive industry, particularly in the electric vehicle (EV) and new energy vehicle (NEV) sectors. Here are some of the key developments:
Domestic Market Momentum
BYD’s Indian Milestone: BYD India celebrated the production of its 5,000th vehicle, underscoring the growing importance of the Indian market for electric vehicles.
SAIC Motor’s Leadership Change: SAIC Motor Passenger Vehicle Company appointed Zhou Xing as the General Manager of the MG brand division, signaling a strategic shift in the company’s brand management.
Hydrogen Power Gains Traction: FTXT, Liyuan Group, and Yutong delivered the first batch of hydrogen-powered heavy-duty trucks, highlighting the increasing adoption of hydrogen fuel cell technology in commercial vehicles.
China’s EV Market Soars: China’s passenger car wholesales reached a record high in November 2024, driven by strong demand for electric and hybrid vehicles.
Strategic Partnerships and Collaborations: Dida Chuxing, JD Auto, and Allianz JD forged a strategic partnership to enhance carpooling services. Farizon, a new energy commercial vehicle maker under Geely Holding, introduced several new energy vehicle (NEV) models in Hong Kong.
Technological Advancements and Future Vision
Joyson Electronics’ Global Ambitions: Joyson Electronics announced plans for a public listing on the Hong Kong Stock Exchange, aiming to accelerate the development and commercialization of advanced automotive electronics.
Geely’s Electric Offensive: Geely started delivering the Galaxy Starship 7 EM-i plug-in hybrid SUV and celebrated the production of its 400,000th vehicle. The company’s new energy vehicle sales also surged 60.6% year-over-year in November.
LiDAR Technology Gains Traction: Hesai Technology secured an exclusive LiDAR supply deal with Great Wall Motor, further solidifying the role of LiDAR in advanced driver-assistance systems (ADAS) and autonomous driving.
AVATR’s Expanding Product Lineup: AVATR unveiled the AVATR 06, its second luxury sedan model, demonstrating the company’s commitment to the premium EV segment.
International Cooperation and Innovation: The 2024 China-UK Automotive Cooperation Forum fostered collaboration between the two countries. ZEROG, a Chinese new energy aircraft manufacturer, secured significant funding for its new energy aircraft development.
Industry Consolidation and Global Expansion
Logistics and Supply Chain Partnerships: COSCO SHIPPING, SIPG, and SAIC Motor strengthened their collaboration in logistics and supply chain management.
Global Market Expansion: XPENG expanded its footprint to Thailand with the launch of the XPENG X9 MPV. GAC International inaugurated its Brazil office, marking a significant step in its global expansion strategy.
As the automotive industry continues to evolve, these developments highlight the growing importance of electric vehicles, autonomous driving, and innovative technologies. Companies are investing heavily in research and development, strategic partnerships, and global expansion to capitalize on the opportunities presented by the new era of mobility.
