Shanghai July 20 (Gasgoo.com) An industry expert from Beijing Auto said today that Chinese automakers must expand research and development initiatives abroad to help boost their innovative and competitive abilities at home, Xinhua News reported.
Access to advanced technologies, cost and time efficiencies, and the ability to attract a wider range of professional expertise are the three major advantages of conducting R&D abroad, said Hu Kaibin, a research fellow from the Economic Management Research Institute of Beijing Automotive Industry Holding Co Ltd (BAIC).
"It is essential to conduct research and development abroad. Auto giants such as Toyota, GM and Ford all have their own research and development centers in Europe," Hu said at the China (Changchun) International Auto Show in Changchun, northeast China's Jilin province.
He said better research capabilities are urgently needed for Chinese auto companies to meet consumer demand and market requirements, as they are still lacking in technological competitiveness, brand reputation and international marketing networks.
Last month, two Chinese auto giants opened their R&D centers in England: the SAIC Motor Design Centre near Birmingham, and Changan Auto's third overseas R&D center in Nottingham. Geely, the new owner of Volvo Cars, will also use the Swedish carmaker's R&D facilities.
In the first half of this year, China's auto exports hit 242,800 vehicles, up 70.53% from a year earlier.
