Chinese automakers capture 75% of Southeast Asia s EV market; Thailand leads the transition, accounting for 79% of EVs sold. Chinese car manufacturers invest heavily in local production. EVs to reach 6% of vehicle sales by 2023.
China Association of Auto Manufacturers (CAAM) has withdrawn the pledge to refrain from "abnormal pricing" to avoid any antitrust issues. The pledge involved 16 automakers including Tesla and Li Auto, and was intended to end the conflict over industry profitability.
A few weeks after Tesla announced the expansion of its Shanghai factory, Huawei has released details on a new vehicle. The telecommunication giant claims the new entrant comes with specs that can beat the Model Y. Tesla is also facing stiff completion from a new Chinese car start-up Nio.