Chinese automaker BYD’s third-quarter battery electric vehicle (BEV) sales tied Tesla s, reaching 17 percent of the global BEV market, and the company is expected to overtake the US automaker in the fourth quarter to become the global leader, a report by market research organization Counterpoint Research showed.
China s new-energy vehicle (NEV) sales have continued to surge throughout the year, with the momentum expected to continue into 2024. Aligned with a recent tone-setting key Party meeting, which emphasized the pivotal role of technology innovation in industrial modernization, experts on Monday highlighted the NEV sector as a representative leader in spearheading innovation and driving overall growth.
Under the guise of safeguarding its “supply chain security,” the US has announced new rules aiming to exclude batteries produced by China and certain other countries from its market. Experts on Sunday said it s another example of US protectionism and economic bullying.
Chinese vehicle producer Changan Automobile s shares closed limit-up on Monday after the company said that it would invest in Huawei s new planned subsidiary that aims to become a leader in intelligent vehicle systems and component solutions amid intensifying competition in China s new energy vehicle (NEV) market.