On August 30, 2024, Magna and the China Council for the Promotion of International Trade Automotive Sub-Council (CCPITAC) jointly released the "Blue Book on China's Road to Automotive Globalization" (hereinafter referred to as the "Blue Book") at the 2024 Automotive Pioneer Forum, a concurrent forum of the Chengdu Auto Show. ("Blue Book"). The Blue Book explores the changing landscape of the global automotive industry and provides a roadmap for the formulation and execution of Chinese automotive enterprises' globalization strategies.
The Blue Book points out that the globalization of Chinese automobiles is a general trend and an inevitable result of the development of China's automobile industry to a certain stage.
In response to the current stage of development of China's automotive industry and the rising status of Europe as an overseas destination, the Blue Book provides a large number of data-driven insights, including risks and potentials of overseas markets, localized operations, etc., as well as case studies of automotive enterprises that have already achieved globalization.
The Blue Book also provides Chinese automakers with the practical tools they need to globalize, guiding them in developing a comprehensive globalization strategy, building localization capabilities, and establishing reliable partnerships.
As a mobility technology company, Magna is the partner of choice for Chinese automakers on their globalization journey. With a complete product ecosystem and comprehensive vehicle expertise, Magna is uniquely positioned to help Chinese automakers reduce risk and accelerate time-to-market.
Kurt Bachmeier, Vice President of Global Sales and Marketing for Magna's Vehicle Division, said: "It is an honor to work with the China Council for the Promotion of International Trade (CCPIT) Automotive Sub-Council on this blue paper to help Chinese OEMs on their path to globalization. By providing value-added services such as one-stop engineering and manufacturing solutions, complete component layouts, and overseas OEM certification support, Magna will become a reliable partner for Chinese automakers in the globalization process."