In recent years, the global NEV supply chain is undergoing profound changes. Against the backdrop of geopolitics and trade frictions, countries are promoting supply chain localization to ensure industrial security.
Developed markets such as Europe and the United States attract battery and vehicle enterprises to invest and build factories through local subsidy policies. The US Inflation Reduction Act requires a certain proportion of EV battery raw materials and components to come from North America or free trade agreement countries to qualify for tax credits.
Chinese enterprises are also actively deploying overseas supply chains. BYD is building vehicle factories in Thailand, Brazil and other places, CATL is investing in battery factories in Germany, Hungary and other places, and battery companies such as EVE Energy and Gotion High-tech are also accelerating their overseas expansion.
Southeast Asia is emerging as a new supply chain hub. Vietnam, Thailand, Indonesia and other countries have attracted substantial NEV industry chain investment with cost advantages and policy support.
For Chinese NEV export enterprises, supply chain localization is both a challenge and an opportunity. On one hand, they need to cope with trade barriers and localization requirements; on the other hand, they can reduce costs and get closer to the market through localized production.
Overall, the global NEV supply chain is forming a China+1 or even China+N pattern, and diversification will be the future development trend.