Global Strategic Moves in the Electric Vehicle Industry
▼ Vietnam Plans to Provide Electricity Price Subsidies for EV Charging Stations
On August 13th, the Vietnamese government announced plans to subsidize electricity prices for electric vehicle (EV) charging stations to reduce usage costs and promote the adoption of EVs. This subsidy plan is expected to be submitted to the central government for approval in mid-September. The statement also mentioned that additional incentives will be developed to promote the production and import of EVs and encourage consumers to switch to and use electric vehicles.
▼ Zeekr Plans to Enter the Japanese Market
On August 13th, Zeekr Intelligent Technology’s Vice President Chen Yu revealed in an interview that Zeekr plans to enter the Japanese market by 2025. Zeekr has expanded into nearly 30 major international markets, including Sweden, the Netherlands, Thailand, and Mexico. By the end of 2024, the company aims to be present in 50 countries and regions globally, covering Europe, Asia, Oceania, and Latin America. Additionally, the right-hand drive version of the Zeekr X has already begun delivery in right-hand drive markets such as Thailand and Singapore.
▼ Turkey in Talks with Two Chinese Automakers
The head of Turkey’s Presidential Investment Office, Daglioglu, recently stated that following BYD’s announcement in July to invest in a factory in Turkey, another Chinese company plans to establish an automobile factory in Turkey. When asked about Chery and SAIC Motor’s potential investments in Turkey, Daglioglu mentioned that the two companies have been negotiating with relevant authorities and potential partners, with talks progressing positively. However, the timing and nature of the investments by the two companies may differ.
▼ Polestar’s US Plant Officially Begins Production
On August 15th, Polestar announced that the Polestar 3 model production had officially commenced at its plant in South Carolina, USA. The Polestar plant in South Carolina is dedicated to manufacturing vehicles for the US and European markets, complementing the production capacity of the Chengdu plant in China. In addition, Polestar’s global production capacity will be further enhanced, with the Polestar 4 model expected to start production in South Korea by mid-2025. Reports indicate that Polestar will utilize the Renault Korea plant, in which Geely Holding Group holds a stake, for production in the South Korean market, with vehicles destined for Europe and the US.
