The US "The Wall Street Journal" published on August 1 said that China's auto parts industry has been rid of the previous years, "high price and low price" problems, for the first time last year, exports exceeded the amount of imports, the Chinese auto parts industry is rapidly rising .
The article said that in the past few years, auto companies were looking for good parts and they would not think of China at all. However, with the rapid increase in the quality of Chinese-made auto parts, some major Western automakers, such as German Volkswagen and Dai-ke, have decided to purchase multi-billion-dollar auto parts in China in the next few years.
The article stated that the rapid development of China's auto parts industry is mainly due to the fact that China's coastal enterprises must shift to the production of high value-added products due to rising production costs. In addition, international auto parts manufacturers have invested heavily in setting up factories in China and have strengthened product quality standards. Under the pressure of competition, Wanxiang Group and other local auto parts companies in China continue to innovate in research and development.
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