Overseas Expansion Emerges as Key Battleground for Chinese EV Makers

Dow Jones08-25 17:32

0932 GMT - Chinese automakers' ability to expand overseas is set to become the defining factor in the global new-energy-vehicle race as growth in the domestic Chinese market continues to slow, according to research company TrendForce. Global sales of battery electric vehicles, plug-in hybrids and hydrogen fuel-cell vehicles rose 10.4% on year in 2Q. Including hybrids, electrified vehicles accounted for a record 33.2% of global auto sales, TrendForce says. China's share of global NEV sales fell to 56% from 66% a year earlier. BYD regained the top spot by battery EV sales, while Leapmotor climbed to third place for the first time. Volkswagen dropped out of the global top-10 list, highlighting intensifying competitive pressure from Chinese brands, the research firm says.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment