Driving Global Innovation: Insights from CES 2024 and China’s New Energy Vehicle Industry

February 8, 2024

CES 2024, held in Las Vegas, is renowned as a global benchmark for technological innovation. It has evolved into a platform for Chinese firms to showcase their global capabilities. As per data from CTA, out of over 4,000 exhibitors, 1,114 Chinese enterprises actively participated in this event.

Notably, automotive technologies such as autonomous driving, intelligent cockpits, and smart travel emerged as focal points at the exhibition. The automotive sector emphasized the display of various practical technologies while also highlighting industry trends like AI applications.

New Energy Vehicles — the fast growing industry of Chinese enterprises

The rise of New Energy Vehicles (NEVs) represents a significant growth opportunity for Chinese enterprises, driven by global technological innovation. China dominates NEV production, accounting for over 70% globally, with numerous brands rivalling Tesla’s cost performance. Notably, in the fourth quarter of 2023, Chinese automaker BYD surpassed Tesla in sales, claiming the top spot in electric vehicle sales.

This surge in China’s NEV industry, fueled by global technological innovation, is poised to challenge traditional automobile industries in Europe and the US. Starting in 2024, US-made electric vehicles with Chinese battery components will lose eligibility for tax credits under the US Inflation Reduction Act (IRA).

“Localization” has become a required course for Chinese automobile companies to globalize

In response to global economic uncertainties and political risks, Chinese auto companies are intensifying their overseas expansion efforts, focusing on localized production and operations to further their globalization agenda.

The concept of “Localization” has emerged as a pivotal aspect for Chinese auto companies aiming to expand globally. Unlike previous generations of companies, the primary concern for these new Chinese firms post-expansion is the establishment of local teams. The enhancement of localization capabilities is crucial for sustainable development in the face of deepening internationalization.

Taking NEVs as an illustration, the opportunities extend beyond sales to include overseas after-sales markets such as second-hand car trading and maintenance. “Localized talents” play a critical role in this scenario, as they possess insights into local markets and enable sustained business operations based on global corporate culture and systems.

Building global operational capabilities is the key

Building global operational capabilities hinges on talent localization and international talent training. Additionally, respecting cultural differences and meeting diversified needs are essential for establishing robust global operating capabilities.

A noteworthy example is Comrise, which aids leading logistics groups worldwide in enhancing their multinational talent acquisition capabilities. Comrise systematically analyzes international talent competency management to assist overseas companies in developing global management talent training and development systems.

Case study on establishing a global technological innovative training and development system for future leaders

About Comrise

At Comrise, we offer tailored solutions for the full-time, part-time, direct-hire, contract, and permanent talent that your business needs. For 39+ years, we have delighted our clients and candidates by focusing on customer satisfaction, innovation, and flexible workforce solutions! 

If you’re looking for new job opportunities click here, or if you’re looking for a reliable partner to help you secure top-notch candidates for hard-to-fill roles, click here.

Related Posts

Recruitment Trend Report Q1 2024 - China Market

April 23, 2024

  Chinese Recruitment Market Overview: In the first quarter of 2024, under the background of high-quality development, China’s economic operation has shown a continuous recovery trend, which has promoted the...

Navigating the Future: Strategies for Effective AI Regulation

April 18, 2024

AI’s Monumental Arrival The launch of ChatGPT in November 2022 marked a groundbreaking moment, akin to an alien landing, according to Deloitte. In a few weeks, it made cutting-edge features...

Chinese Photovoltaic Industry Soars in SEA

April 16, 2024

Southeast Asia: A Strategic Photovoltaic Hub for Chinese enterprises In recent years, Southeast Asia, with its close geographic location, large market potential and low investment cost, has become an important location for...

Global Contact Information

We have offices across the globe. Please ensure that you are getting in touch with the correct office for your region.

United States

Woodbridge, NJ (Global HQ)

90 Woodbridge Center Drive Suite 360
Woodbridge, NJ 07095

Tel: 1-732-739-2330
Fax: 1-732-739-1996

Philippines

Metro Manila

1105 Raffles Corporate Center, Ortigas Center, Pasig City, Metro Manila, Philippines

Malaysia

Kuala Lumpur

Unit B12, Level 1, Menara BT, Tower 3, Avenue 7,
Horizon Phase 2, Bangsar South, No.8, Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia

Tel: +60-03-27794130

 

Beijing

Room 1015, 10/F, Hanweidasha Building, Guanghualu Road, Chaoyang District, Beijing,100020

Tel: +86 10 58780578

北京市朝阳区光华路7号汉威大厦东区1015室

邮编:100020
电话:+86 10 58780578

Qingdao

Room 822, 8F, Building 1, HNA Center, 234 Yan’an Third Road, Shinan District, Qingdao, China

Tel: +86 532 68669385

山东省青岛市海尔路182-8号半岛国际大厦2104室

邮编:266000
电话:+86 532 68669385

Shanghai

Room 18F/G/H, Shanghai Industrial Investment Building, No.18 Caoxi Road, Xuhui District, Shanghai, 200030

Tel: +86 21 64270570

上海市徐汇区漕溪北路18号上海实业大厦18楼F/G/H座

邮编:200030
电话:+86 21 64270570

Chengdu

26th Floor Bldg.2,No.88 Jitai 5th Road, Xiangnian Square, Tianfu Avenue, Hi-Tech Zone, Chengdu, Sichuan, 610041

Tel: +86 28 86703369

四川省成都市高新区天府大道中段吉泰五路88号香年广场T2座26层

邮编:610041
电话:+86 28 86703369

Wan Chai, Hong Kong

EA Licence no. 66051 & 64845

5/F Heng Shan Centre, 145 Queen’s Road East, Wan Chai, Hong Kong

Tel: +852 36223225

牌照号码: 66051 & 64845

香港湾仔皇后大道东145号恒山中心5楼

电话:+852 36223225

Wuhan

Room 1419, 14 / F, Building A, New World Center, No. 634, Jiefang Street, Qiaokou District, Wuhan, Hubei

Xi’an

C17, 18 / F, Block E, Chang’an International Center, 88 Nanguanzheng street, Xi’an, Shaanxi

Hefei

A11-10, 1701, Building 7, Wanda Office Building, Wuhu Road, Hefei, Anhui

Change Language