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Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.
Persons: , BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea
BMW Vision Neue KlasseBMW revealed the BMW Vision Neue Klasse, a concept electric vehicle that will underpin its foray into battery-powered cars. Mercedes-Benz Vision One ElevenThe Mercedes-Benz Vision One Eleven on display at the IAA Mobility show in Munich, Germany. GTI ConceptThe all-electric Volkswagen ID GTI Concept car on display at the IAA Mobility 2023 show in Munich, Germany. Porsche Mission XThe Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Lego Lamborghini Sián FKP 37A Lego version of the Lamborghini Sián FKP 37 on display at IAA Mobility 2023 in Munich, Germany.
Persons: Olaf Scholz, Ola Källenius, Mercedes, Sven Hoppe, Arjun Kharpal, Leapmotor, Zhu Jiangming, BYD, Warren Buffett, Kharpal, Lucid, Cyberster Organizations: Management, Mercedes, Benz AG, Getty, Mobility, BMW, Neue, CNBC, Benz, IAA, Leapmotor, Opel, CNBC Stellantis, Air, Volkswagen, IAA Mobility, Porsche, Carrera GT, Shanghai Auto, Lamborghini Locations: Munich, GERMANY, Germany, Xpeng, BYD, Hangzhou, Europe
Leonhard Simon/Getty ImagesEven before the show kicked off, Renault chief executive Luca de Meo was on French radio talking up the rapid advances made by Chinese EV makers. Competitors worry that Chinese brands may eventually dominate the global EV market. In Europe, the top destination for China’s car exports, sales of Chinese EVs are booming. Supply chain advantageA major factor contributing to the lower cost of Chinese EVs is the country’s dominance of the EV battery supply chain. However, geopolitical tensions could complicate Chinese EV firms’ global push.
Persons: Leonhard Simon, Luca de Meo, ” de Meo, ” “, , Dylan Khoo, Li Yunfei, Oliver Zipse, Khoo, It’s, — Hanna Ziady, Olesya Dmitracova Organizations: Hong Kong CNN, Visitors, Renault, Chinese EV, RTL Radio, China Association of Automobile Manufacturers, China Passenger Car Association, Union, UBS, Europe Auto, EV, New, Research, Deloitte, BMW, ABI Research, Jato Dynamics, , China’s SAIC, MG, IAA, SNE Research Locations: China, Hong Kong, Munich, Germany, Chinese, Europe, Australia, Southeast Asia, Japan, Russia, New York, United States, France, British, United Kingdom, South Korean
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