Overseas Expansion Emerges as Key Battleground for Chinese EV Makers
Dow Jones
Yesterday
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.
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