（Source: "China Securities News" 2024-09-23)
Thanks to the improvement of brand power, technological upgrading and product innovation, my country's w88 casino games energy vehicle exports have grown rapidly in recent years. Data from the China Automobile Association shows that my country's w88 casino games energy vehicle exports from January to August in 2022, 2023, and 2024 were 679,000, 1.203 million, and 818,000 vehicles respectively. In terms of export destinations, Chinese w88 casino games energy vehicles are not only popular in emerging markets such as Central and South America and Southeast Asia, but also in high-end markets such as Belgium and the United Kingdom.
w88 casino games energy vehicles travel all over the country
In recent years, Chinese w88 casino games energy vehicle companies have accelerated their global layout through overseas mergers and acquisitions, investment in factory construction, and technical cooperation. my country's w88 casino games energy independent brands, such as BYD, Changan Automobile, Great Wall Motors, GAC Aian, Nezha Automobile, etc., have established production bases or sales networks in Southeast Asia, Central and South America and other places.
Jin Lingyun, Deloitte China Enterprise Overseas Service Leader, believes that as Chinese car companies continue to expand their coverage areas, product matrices have become increasingly rich, and the value chain layout has gradually improved. The industry has leapt from overseas products ten years ago to today's value chain globalization.
In July last year, BYD announced the establishment of a large-scale production base complex consisting of three factories in Camassari, Brazil, including a w88 casino games energy passenger vehicle vehicle production plant. In July this year, BYD's w88 casino games energy vehicle factory in Thailand was completed and put into production. Subsequently, BYD announced an investment of US$1 billion in Türkiye to establish a factory and R&D center with an annual production capacity of 150,000 w88 casino games energy vehicles, which is expected to be put into production by the end of 2026.
With Thailand as the core, GAC Aian continues to radiate to ASEAN. It has currently entered the markets of nine ASEAN countries including Thailand, Indonesia, Malaysia, and Singapore. The completion of Aian's smart factory in Thailand on July 17 marked that Aian's localization strategy has entered a w88 casino games stage of development. In the future, Thailand will become one of the seven largest production and marketing bases in Ethiopia.
w88 casino games force Nezha Automobile has set up a subsidiary in Sao Paulo, Brazil, and plans to expand to 30 dealers by the end of the year, and is actively promoting the construction of a KD assembly plant. Nezha Automobile has successively deployed in Mexico, Ecuador, Costa Rica and other places, constantly launching w88 casino games models and broadening its sales network. Nezha Automobile has accelerated its globalization strategy and adhered to the line of "deeply cultivating the Southeast Asian market, continuing to vigorously develop the Latin American, Middle East and African markets, and expanding to the European market in a timely manner". Currently, the total number of global users exceeds 450,000.
At the same time, there are more and more cases of cooperation between global automobile giants and domestic automobile companies, such as Volkswagen and Xpeng, Stellantis and Leapmotor, etc. The strength of China's w88 casino games energy vehicle companies continues to be recognized globally, and the "reverse export" of my country's w88 casino games energy vehicle technology is becoming a craze.
Xu Haidong, deputy chief engineer of the China Association of Automobile Manufacturers, believes that in order to achieve true internationalization, the model of direct production in overseas target markets should be adopted. If direct investment can be successfully carried out in overseas markets and achieve results, it will mean that Chinese automobile companies have successfully achieved internationalization.
For localized production in the target market, local sustainable development policies and regulations need to be addressed.
Target market regulations are becoming stricter
According to statistics from the National Passenger Car Market Information Joint Conference, China will export 4.91 million complete vehicles in 2023, of which 38% will be exported to Europe, far exceeding other regions. A survey by Deloitte China in 2022 shows that all car companies plan to focus on major European car markets such as Germany and France in the next three to five years.
In the EU, new energy vehicle companies mainly face regulatory pressures such as supply chain carbon reduction, supply chain due diligence, and intellectual property protection. Li Li, a researcher at the Institute of International Economics at the w88 casino and director of the Technical w88 Measures Research Center, told reporters that the EU Battery and Waste Battery Regulations require electric vehicle batteries to disclose product carbon footprint information, provide battery labels and "digital passports", and conduct supply chain due diligence, which means that car companies must have higher requirements for sustainable supply chain management and data management. The European Union's "Corporate Sustainability Due Diligence Directive" that came into effect on July 25 this year requires companies and their upstream and downstream partners to prevent, mitigate or terminate negative impacts on human rights and the environment, and to incorporate due diligence procedures into corporate systems.
"According to the rules of the WTO Agreement on Technical Barriers to w88, the technical regulations implemented by WTO members impose requirements on the performance of the final product. Now EU regulations also require production and processing methods that do not affect the performance of the final product. This is a new trend in w88 rules." Li Li said that for new energy car companies with higher intelligence, they must also obtain standard essential patent licenses for communication modules in overseas markets, and car companies often need to pay about US$20 per vehicle. In addition, the European Union's General Data Protection Regulation imposes strict requirements on personal data protection. Intelligent connected vehicles should strengthen compliance management in terms of data collection, processing and transmission.
In the Southeast Asian market, where the penetration rate of China's w88 casino games energy vehicles continues to increase, the ESG disclosure requirements adopted by various countries are a combination of mandatory disclosure and voluntary disclosure. Although the ESG standards and policy systems in Vietnam and Malaysia are not perfect, these two countries still constrain the requirements and norms on various ESG issues through corresponding environmental protection laws, tax laws, company laws, labor and human rights protection laws, etc.
In Mexico, a potential market for w88 casino games energy vehicles, the local Electric Vehicle Association plans to achieve 100% electric vehicle sales by 2035. However, according to the Mexican Federal Labor Law, the proportion of Mexican employees in foreign-invested enterprises must reach at least 90%, which poses a challenge to the personnel management of overseas enterprises.
Continuously improve the level of ESG governance
With the deepening of overseas expansion, Chinese new energy vehicle companies are also constantly improving their ESG governance levels to cope with overseas w88 rules.
In terms of information disclosure, according to Wind data, in the past three years, the disclosure rate of ESG (environmental, social, corporate governance) related reports of 59 listed companies in the Wind w88 casino games energy vehicle sector has increased year by year, and is currently close to 80%. From 2021 to 2023, the number of listed companies in the w88 casino games energy vehicle industry that will disclose ESG reports is 37, 42, and 46 respectively.
BYD established the BYD Carbon Emissions Management and Control Committee in 2021, which is responsible for the daily management and overall planning of the company's carbon emissions. BYD's 2023 social responsibility report disclosed that as of the end of 2023, BYD had more than 10,000 cooperative suppliers, and the company conducted full life cycle management of suppliers. However, BYD's total greenhouse gas emissions in 2023 will be 12.3415 million tons, an increase of 53.08% over the previous year. The intensity of greenhouse gas emissions has also increased over the previous year. Scope 3 greenhouse gas emission data has not been disclosed.
NIO's "2023 Environmental, Social and Corporate Governance Report" disclosed the company's green supply chain management strategy. In terms of battery management, NIO continues to carry out battery life cycle management covering product research and development, supply chain management, charging and swapping operations, user services, monitoring and emergency response, safety issue investigation and analysis and improvement, and battery retirement.
Li Auto's "2023 Environmental, Social and Governance Report" disclosed its privacy protection measures, requiring all employees and suppliers to strictly abide by legal requirements and company systems related to privacy protection to maximize privacy security. Li Auto also stated in its ESG report that the company continues to carry out product carbon footprint assessment and accounting, covering all stages of the entire life cycle, including raw material procurement, vehicle production and product use, and has established a battery recycling and processing system.
Bonuo Technology found out that the overall performance of MSCI ESG ratings of Chinese w88 casino games energy vehicle companies was outstanding. As of now, 46% of companies in the global automotive industry have MSCI ESG ratings of A and above, and AAA companies account for 10%. However, companies in China's automotive industry that have MSCI ESG ratings of A and above account for more than 50%, and AAA companies account for more than 20%. Especially w88 casino games energy car companies, such as Xpeng Motors and Li Auto, have obtained AAA grade (the highest level), and BYD and NIO have obtained A grade.
“The ESG performance of Chinese w88 casino games energy vehicle companies has been on an upward trend in recent years, which is due to the continuous improvement and innovation of companies in clean technology, labor management and other aspects, as well as the increase in the transparency of sustainable development information disclosure.” Wang Yiming, founder and CEO of Bono Technology, said that in the process of going overseas, Chinese w88 casino games energy vehicle companies should pay close attention to environmental issues such as clean technology opportunities and product carbon footprint, as well as social issues such as labor management, product safety and quality.
The ESG performance of Chinese w88 casino games energy vehicle companies has been on an upward trend in recent years. This is due to the company's continuous improvement and innovation in clean technology, labor management, etc., as well as the increased transparency of sustainable development information disclosure.
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