Electricity, Enel X Way adjusts Asia strategy on China

Enel X Way is revising its Asia-Pacific strategy regarding China. According to a report from Yicai, the Enel group company dealing in renewable energy will adopt a “make in China and export” model. In particular, columns to be used in the People’s Republic will be produced according to Chinese standards and those according to European standards or adopted in Southeast Asian countries will be exported. In this context, the Shanghai office has become the center of Asia Pacific operations.

China is one of the main electricity markets. In 2022, China’s BYD was the house with the largest market share in the electric market, which grew by 66% worldwide, while Toyota maintained a record of sales of 13 new cars out of 100, in a market that worldwide was reduced by about 2 % from 80.7 million in 2021 to 79.4 million, according to data from the English institute Jato Dynamics. Going against the trend, especially India, which recorded a 24% increase in demand and a record 4.37 million vehicles registered, figures that have transformed the country into the third largest car market in the world, surpassing Japan.

BYD grew by 184%, rising from 0.89% of the market to 2.42% and also overtaking Tesla (from 1.13% to 1.64%). And it is the growth of Chinese brands that is one of the highlights of Jato Dynamics, whose cars produced in China and sold in foreign markets rose by 48% in 2021 thanks to a competitive offer of quality and price. (All rights reserved)