Core Insights - Chinese automotive brands are rapidly expanding into Southeast Asia, with a 58% year-on-year increase in sales in key markets like Indonesia, Malaysia, Thailand, and the Philippines, capturing over 10% of the region's total sales [1] - X-Motors, established in September 2024, aims to support Chinese automotive brands in their global expansion, focusing on building a localized service system in Southeast Asia and other emerging markets [1][2] - The company has formed strategic partnerships with well-known Chinese automotive brands and has secured dealership rights in overseas markets, enhancing its service capabilities [1][6] Company Overview - X-Motors recently completed a nearly $10 million first round of financing, led by Bosch Group's market-oriented investment platform, which will accelerate its store expansion in Southeast Asia and Central Asia [2] - The company has opened two Bosch automotive service flagship stores in Jakarta, Indonesia, serving over 5,000 car owners, and plans to develop 20 franchisees in Jakarta by the end of the year [2][6] - X-Motors is targeting a total of 60 stores in Indonesia by next year, aiming to establish the largest independent automotive after-sales service network in the country [2][6] Market Potential - Indonesia, as ASEAN's largest economy and the world's fourth most populous country, presents significant market potential, with a growing middle class and increasing consumer spending [6][7] - The automotive after-sales service market in Indonesia is valued at approximately $4.5 to $5 billion and is expected to grow steadily, with the Southeast Asian market projected to reach $28.8 billion by 2025 and $63.9 billion by 2035 [6][7] - The lack of standardized, large-brand service providers in the automotive after-market in Southeast Asia creates a market gap that X-Motors aims to fill [7] Strategic Partnerships - X-Motors has partnered with Bosch and CATL, leveraging their resources to enhance its market entry and service capabilities in Southeast Asia [6][7] - As the national general agent for Bosch's smart mobility after-sales service in Indonesia, X-Motors benefits from Bosch's global brand influence, facilitating its market development [7] - The company is also one of CATL's four overseas after-sales service centers, managing all battery maintenance, servicing, and recycling within its authorized regions, which is expected to grow with the increasing use of new energy vehicles [7] Future Plans - Following the establishment of a stable business foundation in Indonesia and Central Asia, X-Motors plans to expand into Malaysia and Australia [8] - The company anticipates a new round of financing by the end of the year to support its growth initiatives [8]