Chinese EV Component Makers Expand Overseas, Sunwoda Eyes Japan
Chinese electric vehicle (EV) component manufacturers, including batteries plus producers like Sunwoda Electronic, are expanding their horizons, exploring overseas markets due to intense competition at home. Sunwoda, one of the world's top 10 EV battery producers, is leading this trend, expressing interest in supplying power batteries to major Japanese automakers.
Sunwoda's chairman, William Wang, has shown keen interest in partnering with Japanese giants like Toyota, Honda, Nissan, and Mitsubishi. Meanwhile, another Chinese supplier, Nihon Sanhua Automobile Parts, sees opportunities in Japan, with Toyota aiming to boost its EV sales.
At the Japan Mobility Show, BYD, China's largest EV maker, and three Chinese component suppliers, including Sunwoda, showcased their products. An unnamed Chinese supplier cited intense domestic competition as a driving force behind the international push.
Sunwoda Electronic, which has grown significantly since 2019, is also establishing a factory in Hungary to better serve European clients and comply with EU policies. However, the company disputes claims of overcapacity in China's power battery industry, attributing it to cyclical factors and measurement methods.
Chinese EV component makers, including batteries plus producers, are actively seeking overseas clients, with Sunwoda Electronic at the forefront. Despite concerns about overcapacity at home, these companies are expanding globally, driven by intense competition and new opportunities abroad.
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