FRANKFURT, Sept 10 Reuters Nearly 900 Chinese auto suppliers and a handful of EV makers are showcasing their products at a trade fair in Frankfurt as the country39;s car sector defies looming trading barriers to expand its global footprint and counter eroding profitability at home.
Chinese carmakers including BYD, GeelyGEELY.UL, Hongqi and GAC International were set to display their vehicles at the fair, called Automechanika, as an added feature to the event which normally focuses on suppliers.
The country39;s auto sector is investing heavily in overseas expansion even as Europe and North America erect trade barriers to stem the inflow of Chinamade EVs they say benefit from unfair subsidies.
The socalled EV Expo, which opens on Tuesday, was set up in partnership with the China Council for the Promotion of International Trade, an added feature to the event normally focused on suppliers.
We want EVs made by Chinese carmakers which are currently to some extent unknown to gain trust in the industry, Olaf Musshoff, Automechanika39;s director, said in a press conference.
China39;s auto sector39;s share of China39;s total outbound investments rose from 16 in 2018 to 22 in 2023, according to a Moody39;s analysis, and car exports have reached record highs this year.
The large showing of Chinese suppliers almost double the number of German suppliers in attendance highlights their growing role in the global supply chain, with Chinese carmakers increasingly planning local…