STORY: Foreign firms boost investment in NEV-related industries in China's Changchun
DATELINE: Sept. 29, 2023
LENGTH: 00:02:26
LOCATION: CHANGCHUN, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of manufacture of vehicles
2. SOUNDBITE 1 (Chinese): JIANG HUAISHENG, General manager of Vitesco Automotive Changchun Co., Ltd.
3. SOUNDBITE 2 (Chinese): YANG CHANGMING, General Manager of Kumho Tire (Changchun) Co., Ltd.

STORYLINE:

The rise of new energy vehicles (NEV) is transforming China's automotive industry landscape.

In Changchun, a city regarded as the cradle of China's auto industry, some foreign-invested companies are expanding their presence in the Chinese market, especially for NEV-related production.

Vitesco Automotive Changchun is a significant production hub for Germany's Vitesco Technologies in China.

In August this year, its brand-new R&D center in Changchun was officially launched, driving the company's transition towards electrification.

SOUNDBITE 1 (Chinese): JIANG HUAISHENG, General manager of Vitesco Automotive Changchun Co., Ltd.
"During the second and third quarters of this year, with the recovery of the Chinese market, our sales will increase considerably compared to the same period last year. In the new energy vehicle sector, China is at the forefront. That's also why we keep investing further in the Chinese market, especially in the Changchun market, to expand our production capacity."

Kumho Tire (Changchun), a subsidiary of South Korea's Kumho Tire, is strategically targeting the NEV sector, recently introducing a range of related products.

SOUNDBITE 2 (Chinese): YANG CHANGMING, General Manager of Kumho Tire (Changchun) Co., Ltd.
"We are striving to develop tires suitable for new energy vehicles produced by Chinese automakers. We expect to produce about 3.8 million tires this year. We're actively developing tires tailored to China's local new energy vehicles, emphasizing low rolling resistance and minimal noise. Our research team is fully engaged in creating products for new energy vehicles. We've already partnered with domestic manufacturers like FAW Hongqi, BYD, and Chery, and we're in talks to provide tires for new energy vehicles from joint venture brands."

According to data from the China Association of Automobile Manufacturers, sales of China's NEVs reached 3.747 million from January to June this year, a year-on-year increase of over 44%.

By 2022, China had maintained its position as the world's top NEV producer and seller for 8 consecutive years.

Xinhua News Agency correspondents reporting from Changchun, China.
(XHTV)