当海外Tier 1开始讲中国故事

Core Viewpoint - The article discusses the challenges and transformations faced by Tier 1 automotive suppliers in the context of the electric vehicle (EV) transition, highlighting the shift of R&D and decision-making power to China, as well as the need for these suppliers to adapt to new market dynamics and technologies [5][6][27]. Group 1: Profitability Challenges - Panasonic sold its automotive electronics business to Apollo due to low profit margins, which only contributed 5% to its revenue despite being a significant part of its business [8][11]. - The automotive parts industry is characterized by low profit margins, with an average EBIT margin of 4.7% expected in 2024, and a stark contrast between Chinese suppliers (5.7%) and European suppliers (3.6%) [14][15]. - Major suppliers like Bosch and ZF are facing declining profits, with Bosch's EBIT margin dropping from 7-8% to 3.5%, resulting in a loss of €1.7 billion [14][15]. Group 2: Strategic Shifts and Restructuring - Tier 1 suppliers are restructuring to focus on higher-margin businesses, with ZF splitting its automotive division to concentrate on more profitable areas like tires [14][15]. - The article notes that traditional automakers are increasingly collaborating with new tech firms, leading to a loss of market share for established Tier 1 suppliers [26][27]. - The shift towards electric vehicles requires Tier 1 suppliers to invest heavily in new technologies while maintaining cash flow from existing businesses, creating a challenging balancing act [14][15]. Group 3: Market Dynamics and Competition - The article highlights the rapid growth of China's EV market, which has outpaced traditional automakers in terms of sales and technological advancement [31][35]. - Traditional automakers are adjusting their EV strategies, with many delaying their electric vehicle targets and shifting focus to hybrid models [28][31]. - The competitive landscape is changing, with established Tier 1 suppliers needing to adapt to new entrants and changing consumer preferences in the EV space [35][36].