Within the general strategic plan, and the commercial in particular, the Chinese market has a high priority, both for the number of vehicles manufactured by national OEMs as for the predisposition of the market to adopt new technologies.
Currently, China is the country that manufactures and sells the most vehicles per year, with an estimated 28 million in 2016, of which 507,000 were electric vehicles. In terms of manufacturing, a new record was established with year-on-year increase of 14.5 %, what means 18.12 million units. It is forecasted that it will grow a 5 % in 2017 until reaching 29.4 million units.
In the collaboration with the consultancy it is included the contact between Xesol Innovation and the key Chinese manufacturers with larger market shares and Tiers 1. It shall also carry out a market research and work with the objective of introducing Xesol Innovation in that market. Moreover, it shall provide advice and orientation about legal issues at national level in order to enhance trade relationships.
It is important to mention that China is the cradle of Baidu, one of the companies that is betting high on the autonomous vehicle. This year it closed an alliance with NVIDIA to promote the technologies of artificial intelligence and autonomous driving.
The consultancy firm, specialised in the sector, provides investment advisory services, Auto-Tech forecast services in the Automotive sector, and intellectual property research in the area of Asia.