Will the world give up European cars for Made-In-China electric vehicles?

📆 8/4/2024 10:31 pm
📰 ChannelNewsAsia

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China,Electric Vehicles,BYD

China emerged as one of the world’s top car exporters in 2023, powered by its massive push for electric vehicles. Buoyed by years of heavy government investments, subsidies, and manufacturing rebates, Chinese automakers have flooded overseas markets as global EV demand continues to rise.

In Q4 2023, China’s BYD even outsold Tesla in sales volume for the first time.

Amid the advent of Chinese brands like NIO and Xpeng, the European Union launched an anti-subsidy investigation into China’s EV trade practices in late 2023. The move prompted swift retaliation from China, sparking concerns about a trade war. Are we witnessing the end of made-in-China? Or is this the beginning of profound shifts in China towards green tech, high tech, and a more service-oriented economy?

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