Taizhou auto parts firms accelerate expansion into emerging markets
chinadaily.com.cn | Updated: 2025-12-16
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An aerial view of XGM Corporation. [Photo/XGM Corporation]
Private auto parts manufacturers in Taizhou, East China's Zhejiang province, are stepping up efforts to diversify export destinations and upgrade technologies as demand shifts toward new energy vehicles, strengthening their presence in emerging overseas markets.
At the production base of XGM Corporation in Taizhou, a shipment of 30,000 automotive shock absorbers was recently prepared for export to Brazil. XGM is a privately owned enterprise specializing in automotive shock absorbers and electronically controlled suspension systems. As the global automotive industry moves toward electrification and lightweight design, the company has expanded research into new products and applications, shifting from traditional manufacturing to intelligent manufacturing.
Alongside technological upgrades, the company is accelerating market diversification. While maintaining exports to Europe and the United States, it has expanded sales in Latin America and ASEAN markets. From January to November, exports to Latin America reached 10 million yuan ($1.41 million), up 15 percent year-on-year, while exports to ASEAN rose to 8 million yuan, an increase of 18 percent.
Support from Taizhou Customs has also contributed to smoother market expansion. Through targeted policy guidance and trade facilitation services, local authorities are helping auto parts exporters improve compliance, optimize tariff benefits under free trade agreements, and respond more effectively to changing global demand.
