...China’s automakers have created detailed globalization plans to ready themselves for entrance into the North American and European markets. The country faces a myriad of challenges such as high barriers to entry and export/import, prohibitive manufacturing costs, need for enhanced safety performance, significant R&D costs, as well as political implications. Chinese manufacturers hope to overcome these obstacles by implementing strategies for each of these concerns with extreme determination.
“While non-Chinese automotive manufacturers are expanding production and sales within China, local vehicle manufacturers are executing a systematic penetration of the global vehicle market,” says Zhao. “Compared to just five or ten years ago, Chinese automakers are significantly larger by manufacturing capacity and revenues and are preparing to take on the export markets.”>>>MORE