Chinese electric vehicle (EV) manufacturers are expected to almost double their global market share to 33% by the end of the decade, causing Western automakers to lose a fifth of their market share, according to UBS Group AG analysts. Chinese automakers, led by BYD Co., have a cost advantage over North American and European brands, allowing them to undercut rivals.
Chinese Electric Vehicles: Chinese electric vehicle (EV) manufacturers are expected to almost double their global market share to 33% by the end of the decade, causing Western automakers to lose a fifth of their market share, according to UBS Group AG analysts. Chinese automakers, led by BYD Co., have a cost advantage over North American and European brands, allowing them to undercut rivals.
A coming influx of Chinese electric cars represents a security risk as they could be remotely controlled to “paralyse” Britain, according to the head of the industry’s professional body.