“In the future, as the global demand for clean energy continues to grow and the competitiveness of China’s new energy industry continues to improve, China’s exports of new energy products to Southeast Asia are expected to continue to grow,” said a report released recently.
The report, titled “New Energy Enterprises’ Going Abroad Series: Setting Sail for Southeast Asia”, was released by KPMG China. It points out that, on the one hand, internal and external factors drive new energy enterprises to actively seek opportunities to “go abroad”; on the other hand, the Southeast Asian market is strongly attracting Chinese new energy enterprises, and Vietnam, Indonesia and other countries are expected to become popular destinations for Chinese enterprises to “go abroad”.
Data shows that in 2023, as China’s high-tech green transformation products with added value, new energy vehicles, lithium batteries, and solar cells, the “new three” of foreign trade exports, will be popular overseas. Another research institution released data saying that from January to March this year, China’s battery exports exceeded 100,000, a year-on-year increase of 4.9%.
“The global energy and transportation revolution is entering the deep water zone, and exploring a diversified battery system has become an industry consensus.” Teng Fei, chairman of NPP New Energy, said that the valve-regulated lead-acid batteries, new energy lithium batteries and lithium battery cells they developed and produced are widely recognized in Singapore, the Philippines, Malaysia, Indonesia and other countries. In particular, at the “2024 Vietnam-ASEAN Economic Cooperation Forum” held recently, it won the “Top Five ASEAN Brands” award.
It is reported that the forum aims to strengthen economic exchanges and cooperation between Vietnam and other ASEAN countries, and encourage multinational companies that contribute to the Vietnamese and ASEAN economies.
The above report also reminds that new energy companies face some challenges when “going overseas” to Southeast Asia, such as the policy ambiguity in the energy transformation of Southeast Asian countries, which will potentially affect investors’ investment expectations, and technology-based start-ups face “difficult financing”.
The report recommends that new energy companies should be familiar with the differences in local policies and regulations when “going overseas”, broaden financing channels, and improve supply chain resilience through the dual drive of supply chain diversification and localization.
