Facing the suspension of electrification by European and American automakers, Junfeng Company discusses a new overseas strategy

June 27, 2024
Latest company news about Facing the suspension of electrification by European and American automakers, Junfeng Company discusses a new overseas strategy

   Reported by Xia Wu, our reporter: On June 26th, Junfeng Company held a seminar on overseas strategy to discuss the changes in overseas markets after Europe and the United States announced tariffs on Chinese electric vehicles and their countermeasures. Several experts and internal personnel from Junfeng participated in the discussion.

   Since Europe and the United States announced tariffs on Chinese electric vehicles, several automakers have recently hit the "pause button" on electrification, delaying or adjusting their electric vehicle plans. Mercedes-Benz has postponed its target of achieving 50% electric vehicle sales to 2030, Apple terminated the "Titan Project," Volkswagen indefinitely postponed the launch of ID.7 in the North American market, and Ford and General Motors reduced their electric vehicle investment plans due to market demand and profit issues. This setback in electrification is impacting product planning and marketing strategies in the American automobile market. Bank of America Securities pointed out that automakers are facing dilemmas in choosing powertrains. General Motors has reduced its target proportion of alternative fuel vehicles, reemphasizing gasoline vehicles, especially in the pickup and SUV sectors. At the same time, automakers are abandoning dedicated electric platforms in favor of more flexible hybrid platforms.

   Traditional automakers are also adjusting their electric vehicle brand strategies by integrating them into traditional vehicle brand portfolios to reduce costs and increase sales. Nevertheless, the rapid development of China's electric vehicle industry has raised concerns among European and American automakers about future competitive dynamics. The global automotive industry is expected to present a diverse array of powertrain combinations in the future, but comprehensive transformation remains a challenging task.

In this context, Junfeng Company' internal and external expert teams and technical personnel have conducted in-depth discussions and formulated a new overseas strategy aimed at leveraging China's advanced advantages in pure electric and hybrid powertrain technologies to expand its international market share.

Global Oil Reserve Tightness Highlights Economic Advantages of New Energy Vehicles

   With global oil reserves increasingly strained and oil prices continuously rising, the economic advantages of electric vehicles are becoming more apparent. Several European and American automakers, such as Mercedes-Benz and Ford, have postponed their electrification plans due to market demand and profit issues. Junfeng Company, with its efficient electric vehicle technology, offers consumers lower operating costs and higher energy efficiency. Compared to traditional fuel vehicles, Junfeng's electric vehicles not only reduce dependence on oil but also significantly lower vehicle operating costs, providing a more attractive option for global consumers.

EU Carbon Emission Pressure, Electric Vehicles as the Best Solution

  The European Union is committed to achieving its strict carbon emission targets, imposing higher environmental requirements on automakers. In this context, electric vehicles from Junfeng Company emerge as the optimal solution. Junfeng's pure electric and hybrid models not only meet the EU's carbon emission standards but also help consumers reduce their carbon footprint, contributing to global environmental protection. This advantage positions Junfeng Company with strong competitiveness in the EU market, laying a solid foundation for market expansion.

Advanced Technology Advantage in China, Hybrid Vehicles Become Market Favorites

   Relying on China's leading position in pure electric and hybrid powertrain technologies, Junfeng Company has introduced a series of high-performance hybrid models. In contrast to some European and American automakers slowing their electrification efforts, Junfeng's hybrid vehicles offer both the range and refueling convenience of gasoline vehicles and the environmental and economic advantages of pure electric vehicles, making them highly sought-after in global markets.

Looking Ahead

   Despite some traditional automakers in Europe and the United States temporarily halting their electrification efforts, Junfeng Company will continue to increase its investment in overseas markets. Through technological innovation and strategic market approaches, Junfeng aims to drive the global electrification process. Junfeng will collaborate with international partners to jointly address energy and environmental challenges, providing global consumers with more environmentally friendly, economical, and efficient travel solutions.

In the future of the global automotive industry, facing a variety of powertrain combinations, Junfeng Company believes its electrification strategy will capture more market share, establishing itself as a significant electric vehicle brand in international markets.