About KPMG China
KPMG China has offices located in 31 cities with over 15,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
In 1992, KPMG became the first international accounting network to be granted a joint venture license in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.
KPMG launches the fourth edition of China’s Leading Autotech 50, which covers four key categories for the first time
This year’s report showcases how China’s thriving autotech companies are continuing the transformation of the industry.
This year’s report showcases how China’s thriving autotech companies are continuing...
As China progresses through the 14th Five-Year Plan period, innovation remains at the core of the country’s modernisation efforts. Vehicle electrification has become an important focus for the automotive sector as the country works towards its newly-established target to achieve net-zero carbon emissions by 2060. In the latest edition of our China’s Leading Autotech 50 report, KPMG identifies four key drivers – electrification, mobility, innovative services and connectivity – that will drive growth in the sector in coming years.
This year’s report showcases how China’s thriving autotech companies are continuing the transformation of the industry. With electrification becoming a leading trend in China, many of the country’s automakers are committing to the large-scale commercialisation of new energy vehicles. The trends suggest that demand will remain strong for vehicles that employ the latest technologies and can integrate well into China’s unique vehicle ecosystem.
2021 marks the fourth edition of KPMG’s annual list of leading autotech players in China. KPMG received a record number of applications in the selection process for this year’s list, a testament to continued optimism in the sector.
Raymond Ng, Vice Chairman, KPMG China, says:
In a major strategic decision, China is planning to reach peak carbon dioxide emissions by 2030 and carbon neutrality by 2060. Going forward, new energy will play a critical role in the effort to achieve the carbon neutrality target. The new energy vehicles that have emerged in recent years are helping to improve the environment and reduce pollution, and this sector is set to become a major direction for the development of China’s automotive industry. Vehicle electrification and sustainable supply chains will be key elements of the automotive sector’s environmental transformation. Cutting-edge technology, new electric vehicle brands, and an active startup ecosystem will all contribute to the establishment of a robust electric vehicle market in China. Driven by the development of new business models enabled by the world leading automobile innovations, the global automobile industry is facing a profound technical and industrial transformation. Against this backdrop, the latest edition of our China’s Leading Autotech 50 report will cover four major categories - electrification, mobility, innovative services and connectivity – that will facilitate discussion and visioning of the future automobile industry and drive changes in the way of mobility in the future.
Autotech 50 list highlights emerging players as vehicle electrification reaches a tipping point
This year’s fourth edition report highlights 50 leading autotech companies in China as well as an additional subset of 25 emerging companies that are deploying unique technologies and actively embracing digital transformation. The companies are evaluated according to multiple criteria including core business distribution, regional distribution, headcount and technical staff.
The report further identifies eight emerging trends in the autotech sector, based on KPMG’s in-depth observations within the industry:
- A tipping point has been reached for vehicle electrification
- New brands are bringing new life to the digital experience
- The line between Big Tech and Big Auto is becoming more blurred
- Autonomous driving scenarios are steadily expanding
- Environmental and social concerns are no longer limited to the tailpipe
- The automotive aftermarket is being disrupted by new entrants
- Supply chain and supplier risk will continue to drive localisation
- Cyber resilience is more important than ever before
Norbert Meyring, Head of Automotive, KPMG China, says:
The momentum towards electrification is growing, but challenges still remain. First, China lags the world leaders in auto R&D spending as a percentage of total R&D spending. Second, shortages continue to occur throughout the supply chain. Third, as with any transformation, there will be winners and losers, and not all the new vehicle brands will survive. This is the most pivotal moment for the auto sector in China in decades. Going forward, the automakers that are most connected to their customers will find themselves better positioned for future success. Partnering with new companies that can bridge technological gaps, provide key innovative services, and gain better insight into consumer demand will be top priorities for carmakers over the next few years.