Invest KOREA

-KOTRA hosted the “ROK-China Online Forum: the Future of Mobility” on Sep 26 in Beijing
-China’s NEV sales volume: from 600,000 in 2017 to over 2 million this year

Korea Trade and Investment Promotion Agency (KOTRA: President and CEO, Kwon Pyung-Oh) hosted the “ROK-China online forum: the future of mobility” at the presence of members of China EV100 in Beijing on Aug 27. The agency set the stage where both Seoul and Beijing get a glimpse into the latest market trends, rapidly converting from the conventional combustion engines to future vehicle technologies, while further strengthening business solidarity.

In the age of future mobility, plug-in cars are the major growth driver of the traditional auto industry. EVs, powered by greener, sustainable sources, have already started to take up substantial market share worldwide on the back of technological development and government supports. Bloomberg NEF once said the global EV sales would capture nearly 30 percent of the total market by the year 2024.

The same goes for China. China is also witnessing a shift in auto industry trends, largely led by new energy vehicles (NEVs). The recent data says NEV sales volume jumped significantly from 600,000 in 2017 to over a million in 2018. This year’s record is predicted to go over two million.

By sharing information on the industry and technology trends of the future mobility between two countries, KOTRA explored potential business opportunities where mutual partnership will be in demand.

With guests from Beijing and Seoul, Korea Automotive Technology Institute (Katech), CNTNRC, SK Innovation, PNE solution and 113 business representatives presented at the forum. An official of KOTRA said “The forum was a wonderful venue where two countries were able to look for possible ways of joint cooperation, while understanding the market demand.” adding “We’ll spare no efforts to help Korean automakers in China further expand into the market.”

Source : KOTRA (2020.08.28)