Recap | EV giants at crossroads, BYD to overtake Volkswagen, 10 million units a year: 6 China EV reads
A do-or-die moment facing the likes of Nio, Xpeng, Geely’s Zeekr and Leapmotor, and more: some of our latest reads on the Chinese EV industry
1. Chinese EV makers Nio, Xpeng, Geely’s Zeekr and Leapmotor face do-or-die moment amid overcapacity and tariff woes
China’s electric-vehicle manufacturers face a critical juncture as overcapacity and high tariffs force unprofitable companies to cut costs and launch new models to survive in a fiercely competitive market. Only self-sustaining firms will endure, analysts predict, as market saturation and tariffs escalate challenges.
2. Brazil welcomes Chinese new energy-vehicle investments; top diplomat lays out welcome mat for Beijing amid global EV sector turmoil
Brazil’s top diplomat in Hong Kong said his country would welcome more investment from Beijing in the rapidly expanding and lucrative EV field. Though the United States and European Union have been quick to act against China’s electric-vehicle sector, levying tariffs and trade restrictions to limit the industry’s reach, Brazil will not follow suit.
3. BYD to surpass Volkswagen as China’s top carmaker amid EV boom, outselling the German firm in first 10 months of 2024
BYD is poised to surpass Volkswagen as China’s top carmaker in 2024, driven by a surge in electric-vehicle deliveries, with sales expected to exceed 4 million units this year. The Shenzhen-based company has already surpassed Volkswagen’s joint-venture units in the first 10 months, demonstrating its dominance in the rapidly growing electric-vehicle market.
