Automotive trends: Global expansion for Chinese EVs

The automotive industry has witnessed a tremendous development of vehicle electrification over the past decade, driven by a convergence of technological advancements, increasing environmental awareness, and supportive government policies. Even the turmoil and uncertainty caused by Covid-19 has not been able to delay this trend. In fact, 2020 to 2022 marked the fastest-growing period for electric vehicle (EV) sales. 

Among all countries, China’s electrification journey has been arguably the most remarkable. Chinese automakers struggled to break through from the low-end segment in the era of internal combustion engines (ICEs). However, they have leveraged the ongoing mega trend to establish themselves as worthy (if not superior) competitors for the western EV brands. Nowadays, Chinese brands are dominating domestic…