The automotive industry is experiencing a major shift with the rise of electric vehicles (EVs) and connected cars. This evolution spans regions like China, Southeast Asia, and Latin America, each contributing uniquely to the global mobility value chain. China’s original equipment manufacturers (OEMs), such as BYD, now the world’s largest EV manufacturer, are leading this growth. Even in Latin America, Chinese automakers are transforming the ecosystem, surpassing local players. In ASEAN countries like Malaysia and Vietnam, a mix of non-ASEAN automakers and production plants are meeting rising demand.
How are you guaranteeing your competitive success in these emerging automotive regions?
Forward-thinking OEMs are developing regional strategies to tap into these high-growth markets. However, each country presents its own set of challenges and growth constraints. Fortunately, Frost & Sullivan’s growth experts have pinpointed key drivers and obstacles, industry best practices, and transformative megatrends propelling growth in these regions. Here are some lucrative opportunities they have unveiled:
China: The automotive ecosystem in China is dynamic, with EV automakers like XPeng, SAIC, Nio, BYD, and Leapmotor emerging as global powerhouses. XPeng’s collaboration with Volkswagen to produce new EVs and explore future platforms exemplifies how strategic alliances between Chinese and non-Chinese automakers can unlock exciting growth opportunities in the region.
Latin America: The Latin American automotive industry continues its upward trajectory, despite having faced huge challenges such as the severe effects of COVID-19 on local economies. To stay ahead in this dynamic ecosystem, leading automakers are leveraging regional strategies. This involves understanding local dynamics and investing in connected vehicle capabilities and EV charging infrastructure.
ASEAN: ASEAN, a hub of automotive innovation, hosts numerous assembly plants and production bases for global OEMs, particularly Japanese giants like Toyota and Honda. Local players such as Malaysia’s Perodua and Proton and Vietnam’s VinFast are also playing significant roles in building a diverse ecosystem. Despite challenges, the ASEAN automotive industry remains resilient and poised for further expansion.
To delve deeper into these growth avenues and hear from industry experts, click here.
Most countries in the world are going through automotive transformations of their own, with growth opportunities emerging across all segments in automotive mobility — connected vehicles, autonomous vehicles, shared mobility, electric vehicles, leasing and rental, fleet management, digital mobility, and more. To stay ahead, ambitious ecosystem companies are actively seeking out local alliances and viable entry points. Are you prepared to be among these proactive players?
