Malaysia: the Next Blue Ocean for Chinese Automobile Industry

March 26, 2024
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Competition in China’s domestic automobile market is intensifying. Consequently, many Chinese automobile manufacturers and parts enterprises are expanding abroad and speeding up their exploration of overseas markets. Southeast Asia is currently the largest market for China’s new energy vehicles.

 

New opportunities for China’s automobile industry chain —- Malaysia

As the third largest economy in Southeast Asia, Malaysia is an important automobile market in the ASEAN region. According to data from the Malaysian Automobile Association, the sales of new energy vehicles in Malaysia showed a growth trend in 2023. The total sales of pure electric and hybrid vehicles reached 38k; of which, 10k were pure electric vehicles, a substantial growth compared to 2022. This opened a development space for new energy companies, attracting upstream and downstream companies in China’s automotive industry chain to flock to Malaysia.

Automobile Chain

China’s automobile industry chains in Malaysia

Chinese new energy vehicle companies are generally optimistic about the development potential in Malaysia

Malaysia’s new energy vehicle market is in a booming stage, and the domestic market has broad room for development. Consequently, the Malaysian government plans to build 10k public charging facilities across the country by 2025. Chinese companies can boost local industry growth by advancing local energy services and production plans. This will accelerate Malaysia’s new energy vehicle sector and enhance the presence of Chinese brands in Malaysia.

 

Talent needs and challenges for Chinese automobile companies expanding overseas markets

The expansion of Chinese automobile companies into overseas markets is increasing the demand for global talent. This necessitates a “talent globalization” strategy. Consequently, companies looking to attract global talents must innovate beyond traditional thinking. They need to understand the global market, continually gather and assimilate information, broaden their perspectives, and navigate the complex, dynamic international landscape.

About Comrise

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