Reported 8 months ago
Japanese car brands are facing tough competition in the Chinese market, resorting to steep discounts but losing out to local carmakers offering even lower prices. As a result, Japan plans to collaborate with ASEAN countries in a joint automotive sales strategy to tap into new markets and compete against the remarkable presence of Chinese electric vehicles in the ASEAN region. The move aims to offset the decline of Japanese car brands in China and explore opportunities in Southeast Asia. Government officials from Japan and ASEAN are set to develop a mid-term joint strategy until 2035, covering areas such as personnel training, carbon reduction in production processes, mineral resource procurement, and investment in next-generation biofuels.
Source: YAHOO