A number of foreign firms have announced tech partnerships un China as they try to get a hold in the world's biggest electric vehicle market. Photo: - / AFPgiants to try to stay competitive in the world's biggest electric car market, where shiny smart screens, assisted driving and sophisticated map technology are in high demand.
"They are notoriously conservative companies and their competencies aren't technology," Tu Le, managing director of Sino Auto Insights, told AFP."But they are being forced to try to be more open-minded towards technology due to where the market is moving in China and the new entrants into the space -- companies like Xiaomi and Huawei with high tech consumer products backgrounds.
BYD, which has emerged in recent years as the country's undisputed champion of the sector, beat Tesla in the final quarter of 2023 in global EV sales.Foreign automakers are now compelled to find ways to boost their standing in a market increasingly dominated by a low-cost and high-tech vehicle lineup.
One major reason why foreign automakers are seeking partnerships with local tech firms is to benefit from their innovation, which Chinese automaking executives have attributed to the cutthroat competition in the industry.Tesla boss Elon Musk last week received a key security clearance for its locally produced EVs, just as reports emerged that the firm had entered into a deal with local tech titan Baidu for maps and navigation.
And Toyota said its deal with gaming giant Tencent on AI would help it capitalise on Chinese consumers' growing appetite for advanced smart features in the cars it sells in China. During a surprise visit to Beijing last week, Tesla boss Elon Musk met top Chinese officials and received a key security clearance for its locally produced EVs.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Ethiopia: Flower industry struggling to recover amid complaints from foreign growersIn the past year, several European flower businesses have witnessed their farms being looted and burned amid little protection from the state, compelling many to suspend their operations in Ethiopia’s volatile northern region of Amhara.
Herkunft: TheAfricaReport - 🏆 29. / 55 Weiterlesen »