(Yicai) Nov. 8 -- Japan’s Panasonic Holdings, South Korea’s Samsung Group and other automotive component makers from the two East Asian countries are showcasing their latest products at the ongoing seventh China International Import Expo in order to expand their footprint in the country’s rapidly growing new energy vehicle market.

Panasonic, which has attended the CIIE for seven consecutive years, is exhibiting its electric vehicle compressor, developed and manufactured by a Chinese subsidiary, at the CIIE for the first time.

Asahi Kasei, which is participating in the CIIE for the third year, is displaying three types of auto components at the expo for the first time. They include resin glass car windows that the Tokyo-based firm co-developed with China’s AnkoGlass, which are half the weight of normal glass windows.

Japanese and South Korean auto parts makers are strengthening their manufacturing, research and development, and co-creation capabilities in China, as the latest quarterly data shows that half of the cars sold in China are now NEVs.

Asahi Kasei hopes to link arms with Chinese partners in order to stay ahead of the competition and to keep up with the country’s fast pace of development, said Shuji Kondoh, executive officer and general representative of Asahi Kasei China, which runs centers in Shanghai and Shenzhen.

Samsung, too, has a number of in-vehicle accessories and other products on show. The Suwon-based company is very optimistic about the opportunities in China’s NEV market, due to the country’s large consumer base and complete industrial chain, staff at the Samsung booth told Yicai.

Samsung has three auto capacitor production bases worldwide, and the largest is in Tianjin, they said. Although the NEV market in China has not yet reached its peak, the firm has allowed plenty of room for additional capacity to be added so that it can quickly ramp up output.

Osaka-based Panasonic and auto manufacturer Toyota Motor’s lithium battery factory, located in Dalian and run by their joint venture Prime Planet Energy, is now in full production. The facility’s R&D center opened in June 2023 and is increasing its focus on local R&D efforts.

Editor: Kim Taylor