Foreign Auto Parts Makers Optimistic About China's New...
China News
April 22, 2024
Amid China's rapidly growing electric vehicle industry, foreign auto parts manufacturers are bullish on the market and investing heavily in the country. EVs now make up 30% of China's auto market, with about 9.5 million units sold last year, marking a 38% year-on-year increase. Leveraging advanced technology and production capabilities, international auto parts makers such as Bosch and Magna International, specializing in electric powertrains, are doubling down on investments.