Overview: China accounted for nearly 60% of global electric vehicle (EV) sales by the end of H1 2024. This dominance is driven by the increasing popularity of affordable Chinese EVs that offer advanced features like cutting-edge safety systems, digital cockpit features, seamless connectivity, and regular over-the-air (OTA) updates. The surge in new model launches by Chinese automakers is intensifying competition, putting immense pressure on European, Japanese, Korean, and American automakers to adapt to shifting consumer preferences for smart and safer cars. This transition mirrors the way Chinese players disrupted the international smartphone market to establish themselves as leading global brands.
This report provides an in-depth analysis of how Chinese automakers have taken the lead in the EV and software-defined vehicle (SDV) revolution. Key strategies include a proactive approach to SDV readiness, emphasizing vertical integration for greater supply chain control, leveraging favourable government policies to drive EV growth, and adopting modular vehicle architectures to accelerate time-to-market. Additionally, advantages such as lower manufacturing costs, a startup-driven culture fostering product differentiation, significant investments in R&D, and recruitment of global talent have enabled Chinese automakers to outpace traditional competitors.
Through a detailed examination of these factors, the report highlights how Chinese automakers are widening the gap with legacy manufacturers in the race to dominate the SDV landscape.
Table of Contents:
• Proactive approach for SDV journey
• Modular development approach
• Vertical integration by OEMs
• Startup culture spirit
• Cost competitiveness
• Higher spending on R&D
• Conclusion
Number of Pages: 6
Published Date: January 2025
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Soumen Mandal
Soumen is a Senior Analyst tracking IoT, Automotive and Telecommunication ecosystem at Counterpoint Technology Market Research. He is interested in IoT applications, connections, components, electric vehicles, connected cars, autonomous vehicles, semiconductors, shared mobility, services and emerging technologies. He started his career as an Energy Analyst with Manikaran Power Ltd. He has experience working with DISCOMs and SLDCs in the Indian power and energy industry. He is currently based in Gurgaon. He holds an Electrical Engineering degree and an MBA in Marketing & Finance.
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