Beijing, 23 August 2024 (TDI): The 2024 Global Automotive Supply Chain White Paper, which was published on Thursday, lists three Chinese companies in the global top 20 automotive suppliers.
With supply chain revenue of 285.25 billion yuan ($39.96 billion), 241.67 billion yuan, and 159.52 billion yuan, respectively, the three businesses—CATL (7), Weichai Group (8), and HASCO (16)—were the top-performing supply chain corporations in the nation throughout 2023.
The Top 100 Global and Top 100 Chinese Automotive Supply Chain Companies were revealed on Thursday in a White Paper co-published by China Automotive News and international consulting firm Roland Berger.
In 2023, Bosch, Denso, ZF, Hyundai Mobis, and Continental continued to be the top five supply chain businesses worldwide; the positions 4 and 5 were swapped.
Yuan Wenbo, a partner at Roland Berger, states that the global top 100 car components suppliers saw a 13.2 percent annual growth in revenue last year. The auto market’s recovery along with increased investment and consumption led to an increase in auto suppliers’ overall profit margin to 6.1 percent in 2023 from 5.4 percent in 2022.
In the modern automotive value chain, Chinese auto suppliers are becoming more and more significant. The White Paper claims that in 2023, China’s parts and components businesses had a strong increase in both size and overall earnings.
With 34 percent of the overall added value coming from components revenue in the intelligent and new energy sectors, the revenue structure’s top spot was still held by this segment. While the net profit of intelligent electronic parts has maintained a 200 percent growth for the past two years, the White Paper stated that the profit growth of new energy components accounted for 36% of the total added value.
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During the White Paper’s introduction event, Ye Shengji, the chief engineer of the China Association of Automobile Manufacturers, stated that China’s new energy and intelligent linked vehicles had their own development advantages worldwide and recommended bolstering basic technology research even further.
He also advocated for businesses to adopt the trend of integrating different industries and disciplines.
Ye said that it is also critical to support the low-carbon and environmentally friendly growth of the automotive supply chain, as well as the acceleration of supply chain firms looking for possibilities outside.
