COLOGNE, Germany, June 26 (Xinhua) — “Loving my new car!” Phil Foden posted a photo of himself with his new car on June 14, the opening day of the 2024 Euro in Germany. His new ride is the “Seal,” an all-electric vehicle made by Chinese automaker BYD.
Just like the English football star, UEFA, Europe’s football governing body, has also chosen Chinese new energy vehicles.
In Germany, the heart of the European auto industry, BYD has replaced Volkswagen as the official auto partner of Euro 2024. This is the first time in the tournament’s history that it has partnered with a new energy vehicle brand and a Chinese automaker.
UEFA Marketing Director Guy-Laurent Epstein remarked that this decision aligns with UEFA’s vision of creating a greener Euro. “BYD is globally renowned for its innovation in the new energy vehicle sector. We are optimistic about BYD’s role in promoting the green transformation of Euro,” he said.
This is just one example of Chinese partners’ involvement in Euro 2024, where five out of 13 top-tier official partners of the tournament are Chinese companies, all from high-tech industries, including new energy vehicles, smart appliances, mobile payments, smartphones, and e-commerce.
Unlike past sponsorship where Chinese companies were only looking for brand exposure at sporting events, they are now deeply integrated into various aspects of the tournament. New technologies, new business models, and new ideas from China are reshaping the event itself.
SOLUTIONS FROM CHINA
If you watch Euro 2024, you must have noticed that whenever a VAR (Video Assistant Referee) review is conducted, the screen displays a Hisense logo.
Since 2016, the Chinese electrical appliance manufacturer Hisense has been an official partner of Euro for eight years. This year, Hisense also became the tournament’s official partner for VAR displays.
This is the first time UEFA has opened commercial rights related to professional officiating. UEFA conducted multiple rounds of technical testing on Hisense products before making the final decision.
Passing UEFA’s stringent technical tests highlights Hisense’s technological prowess. Before the start of Euro 2024, Hisense launched its new all-scenario AI picture quality platform. For better football match presentation on TV, Hisense employs MEMC motion compensation technology to make high-speed motion scenes smoother.
Aside from providing technical products, Chinese companies are also transforming consumption methods. Alipay+, a global payment partner of the tournament, has introduced “QR code payment” to Europe.
Currently, users from over 30 electronic wallets and banking apps worldwide can make payments using mobile payment applications at all venues of the tournament. The blue QR codes from China are accelerating Europe’s transition to the mobile payment era.
FOR GLOBAL REACH
For Chinese companies with global strategies, sports marketing is a vital accelerator for enhancing brand influence and international development.
Through the influence of Euro 2024, Alipay+ is expanding its business map in Europe. In April, Alipay+ partnered with European mobile payment platform Bluecode, enabling Alipay+ merchants to support mobile payment methods from over 300 banks in Germany and Austria. Currently, more than 400,000 merchants in Europe accept QR code payments.
In addition, BYD’s five models have entered 19 countries and regions in Europe, with over 230 stores established.
Hisense’s overseas revenue has grown from 23.4 billion yuan (3.30 billion US dollars) to 85.8 billion yuan (11.83 billion dollars), increasing its overall revenue proportion from 23% to 43% since 2016.
In Germany, where the tournament is being held, as of May this year, Hisense’s sales of televisions priced above 500 US dollars have increased by 101% year-on-year. Hisense Germany’s cumulative sales have increased by 52% year-on-year.
“The ability to command high premiums comes from product innovation. During the process of going global, we increasingly feel that Chinese companies that proactively transition to high-end markets are more resilient and competitive,” said Fang Xueyu, President of Hisense International Marketing Company.
BENEFIT FOR ALL
As Chinese companies grow in the European market, they also bring new business opportunities and employment to Europe.
The “scan-to-pay” trend driven by Euro 2024 has caught the attention of European technology expert Efi Pylarinou. She remarked on social media that Alipay+ makes cross-border payments “seamless,” benefiting all kinds of merchants, from small ice cream stands to chain restaurants, and that the value of cross-border mobile payments will become increasingly prominent, fostering the growth of the tourism economy. “This is the next digital era of cross-border payments,” she said.
In December 2023, BYD announced the establishment of a new energy vehicle production base in Hungary to help build a green “ecosystem” locally and promote Europe’s green energy transition.
Hisense, with nearly 10,000 employees in Europe, has five major production bases in Slovenia, Serbia, the Czech Republic, France, and Poland, and has established six R&D centers in Europe.
Fang pointed out that the brand recognition established through sports events like Euro has also changed the perception of Hisense’s European partners. “It shows that, unlike many companies that come to Europe for quick profits, we are here for the long term and are serious about building our brand.”
“In this way, we can build a partnership for mutual growth,” she noted.