UK Trade&Investment has great interests in the Chinese Automobile Industry

During interviews on UK Trade & Investment and UK Auto Investment Agency, reporters learned that they have a positive attitude towards cooperation between Chinese and British automobile enterprises. Now they are discussing cooperative plans with several Chinese enterprises, including the traditional automobile and parts companies, and Internet companies as well, in which Alibaba Group is contained.

Joe Greenwell, CEO of UK Auto Investment Agency and Chairman of UK Royal Auto Club Foundation once visited China two years ago, with the aim of promoting cooperation in intelligent vehicles and driverless technology between the two countries. This time, his visit to China brings the hope of promoting low-carbon technology and deepening potential Chinese investors’ understanding of British intelligent vehicles, driverless technology and automobile intelligent interconnected technology through Trade & Investment’s activities.

Britain has a love for automobiles and the British government has provided great funds in automobile R&D, covering areas including low-carbon technology and the development of intelligent vehicles and interconnected automobiles. Two months, the British announced an important investment plan of 200 million pounds to establish an intelligent interconnected automobile development center, with the government and automobile enterprises funding 100 million pounds respectively.

Speaking of Britain’s competitive power, Joe Greenwell has great confidence.He said that, “For example, one aspect is the electronic designing. Now 40% of software database are located in Britain. Britain has great advantages in computer tomography technology and 3D technology. Another aspect is that it is easier to get access of self-driving tests in Britain than other European countries. Some automobile self-driving test bases have been located in Coventry, Milton Keynes and Bristol. Britain has a looser management environment and provides many opportunities for Chinese companies in this aspect.” In fact, the automobile industry in UK is performing relatively well compared with other industries. Public data reveals that the production volume is 1 million units in 2010, 1.5 million units in 2014 and expected to be 2 million units in 2020. The sales volume increases 24% from 2009 to 2014 in UK, compared with negative numbers in other European countries.

In fact, some Chinese enterprises have carried out some investments in Britain, including Geely’s investment to TX5 and R&D center in Coventry, Shandong Yongtai’s investment to UYT, China Railway Corporation’s investment, Changan’s R&D investment in Nottingham, BYD’s investment in London’s single- and double- decker bus. Besides, LETV has cooperation with Aston Martin. During the time of investing in UK, their domestic businesses have also increased.

Joe Greenwell expressed that there is no investment boundary, and cooperation can take place only if it is fit with the bilateral interests. However, entering into the UK parts supplying market requires products achieving relevant international standards, including cost and productive capability. Once they meet the standards, it is quite possible to cooperate with leading companies such as Jaguar, Land Rover, Nissan and Toyota. Joe Greenwell said that, it is UK Auto Investment Agency’s responsibility to let us know that competitive power really counts after enterprises entering into the UK market.