German Chancellor Olaf Scholz greeted the international auto manufacturers at the country’s largest automobile show, IAA Mobility, emphasizing the importance of fair competition for business. In his speech, Scholz expressed his appreciation for the presence of numerous international manufacturers and suppliers at the event in Munich.
The IAA Mobility, the 2023 International Motor Show, commenced in Munich, Germany, featuring a significant presence of both German and Chinese exhibitors. According to a spokesperson for IAA Mobility, this year’s trade fair showcases the participation of 40 percent of exhibitors from Asia, including 75 Chinese companies such as BYD, Xpeng, Leapmotor, SERES Group, Horizon Robotics, and CATL.
Germany officially recognized China as a manufacturing country in its passenger car registration last year, which has led to a rise in the market share of Chinese cars. As of July, Chinese cars accounted for 1.3 percent of the market share, surpassing Britain, as reported by the Federal Motor Transport Authority.
The swift advancements in battery technology and early involvement in the electric vehicle industry have positioned Chinese carmakers, such as their key advantages. Ferdinand Dudenhoeffer, director of CAR Center Automotive Research Duisburg in Germany, pointed out the benefits of Chinese carmakers’ rapid battery innovations and early market entry in the electric vehicle sector.
Dudenhoeffer also emphasized that the competition between Chinese and German carmakers will contribute to the growth of German companies. He stated that competition is a driving force for progress and that being engaged in competition encourages companies to advance at a faster pace.
Credit: The Star : News Feed
