Auto supply chain summit held in Wuhan

An auto part supply chain summit held in Wuhan, Hubei province, from Nov 26 to 27 attracted around 200 carmaker and auto supplier representatives as well as government officials and investors.

The summit, organized by the Auto Business Review magazine, served as a platform for face-to-face exchanges between carmakers and auto suppliers about confronting the challenges in the post-pandemic era.

It also offered an opportunity for the companies in the country's automotive industry to break the industry boundaries and re-integrate resources, said the organizers.

"For the Chinese auto supply chain, it is a historic opportunity. Those who don't understand the age will get lost," said Jack Yu, editor-in-chief of the magazine.

Protectionism is seen in many industries, including car manufacturing, in some western countries. The pandemic has made the supply chain uncertain and fragile. And new players including Nio and Xpeng are growing in size and value to take on established car companies.

"That does not mean the auto industry is revolutionized overnight. But epoch-making changes are taking place, which result in changes in the auto supply chain," said Yu.

Representatives shared their opinions at the two-day event.

Liang Guiyou, a senior executive at FAW Group, said he felt carmakers and suppliers are allies, while Mu Wen, vice-president of Beijing Benz, said business units in carmakers should have the right to choose suppliers, which would facilitate and speed up cooperation.