KOTRA Supports Market Briefing and One-on-One Consultations for European Future Car Market Entry

'Global Partnering (GP) Europe 2022' to be Held Online from the 6th

[Asia Economy Reporter Sunmi Park] KOTRA will hold the ‘Global Partnering (GP) Europe 2022’ project starting from the 6th to support domestic companies’ entry into the European future car market.

About 30 global buyers from the European region and around 100 domestic companies are expected to participate. The GP project refers to a program that supports our small and medium-sized enterprises (SMEs) and mid-sized companies in establishing cooperative relationships with global companies and entering the global value chain (GVC) stably.

Starting with a market trend webinar hosted by the KOTRA Frankfurt Trade Center on the 6th, a three-month period of one-on-one video consultations will be held to support various business discussions between domestic companies and European buyers.

In the market trend webinar, representatives from Germany’s leading future car-related associations and institutions will be invited as speakers to introduce the current status of the German automotive industry, which is rapidly transforming into an eco-friendly future car market, and to explore market entry strategies. Participants include the German Association of the Automotive Industry (VDA), the E-Mobility Association (BEM), and the German Hydrogen and Fuel Cell Technology Organization (NOW), who will present on topics such as ▲ the German automotive industry and international relations, ▲ the German electric vehicle market and charging infrastructure, ▲ and the application status of hydrogen in the mobility sector.

Additionally, local private automotive industry experts will be invited to explain the production status and plans of European OEMs (Original Equipment Manufacturers), as well as key sourcing items of European companies such as battery housings.

During the one-on-one consultation sessions held after the briefing, broad discussions will take place on parts exports, joint research and development (R&D), investment attraction, and more. In particular, this year, to expand domestic companies’ participation opportunities in advanced projects such as electric vehicle module development, arrangements for consultations with engineering firms in the European automotive sector will also be strengthened.

Lee Gil-beom, Head of KOTRA Europe Regional Headquarters, said, “To expand entry into the rapidly growing EU future car market, we must broaden participation opportunities not only in modular product exports but also in advanced projects such as joint R&D,” adding, “We will actively support diversifying the market entry methods of our SMEs and mid-sized companies.”