This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Chinese EVs Want to Shock Global Markets Next
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Markets > Chinese EVs Want to Shock Global Markets Next
Markets

Chinese EVs Want to Shock Global Markets Next

Editorial Board Published December 20, 2021
Share
Chinese EVs Want to Shock Global Markets Next
SHARE

Chinese electric vehicles are speeding ahead in the country in 2021. Next they may want to make inroads overseas.

Sales of new-energy passenger vehicles in China, including plug-in hybrids, have nearly tripled from a year earlier in the first 11 months of 2021, according to the China Association of Automobile Manufacturers. And that is against the backdrop of a sluggish overall car market. New-energy vehicles accounted for nearly a fifth of passenger-car sales in November, compared with 6.2% for the whole 2020.

Though China is phasing out subsidies for purchasing EVs, it has introduced a credit trading system encouraging car makers to produce vehicles with lower emissions. Infrastructure has also improved: there are now more than one million charging points in China, double the number two years ago, according to China Electric Vehicle Charging Infrastructure Promotion Alliance.

Apart from Tesla, Chinese brands dominate EV sales in the country. One unusual winner is the Hongguang Mini EV: a $4,400 hatchback made by a joint venture of General Motors, Liuzhou Wuling Motors and state-owned SAIC Motor. But other Chinese auto makers like BYD, Li Auto and XPeng are making more-conventional-looking EVs that are also bestsellers.

Having a head start after years of subsidies has helped. The country now has a strong EV supply chain. Contemporary Amperex Technology (CATL) is the world’s largest EV battery maker. China also dominates the processing of battery materials like lithium. Interest is also surging in a type of battery using a technology called lithium iron phosphate (LFP), which is safer and cheaper. The technology has been around for years but improved energy density thanks to better battery architecture now means it is suitable for wider adoption, especially in more-affordable EVs. Tesla has used LFP batteries from CATL for its China-made Model 3. BYD, which is backed by Warren Buffett, has also designed its own version.

Tesla has been making its cars sold in China at its Shanghai plant. The company has also exported some made-in-China Model 3 sedans to other countries. The relaxation of joint-venture restrictions in 2018 allowed Tesla to build its fully owned factory in Shanghai.


Newsletter Sign-up

Markets

A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data.


SHARE YOUR THOUGHTS

How might China’s auto makers change the global EV market? Join the conversation below.

Chinese car makers could be eyeing global markets next. Sweden-based Polestar, which is owned by China’s Geely, has been selling its made-in-China EVs in Europe and the U.S. MG Motor, a British car maker bought by SAIC in 2007, has also been making its EVs in China. Both ventures have done well in Europe, but are still far behind Tesla and traditional market leaders like Volkswagen. Other Chinese car makers from NIO to BYD are also looking to sell their cars in Europe, especially in the EV-friendly Norway.

Despite being the world’s largest auto market, China has never been a big car exporter globally. It seeks to change that in a more-electrified future.

Chinese auto maker XPeng is betting that driving assistance features and other tech will be the key to winning new customers. WSJ travels to its research and development lab to see how its rivalry with Tesla could reshape how we drive. Photo: XPeng

Write to Jacky Wong at [email protected]

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the December 21, 2021, print edition as ‘Chinese EVs Want to Shock Global Markets.’

Contents
Newsletter Sign-upMarketsSHARE YOUR THOUGHTS
TAGGED:MarketsPAIDWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Biogen Cuts Price for Alzheimer’s Drug Aduhelm by Half Biogen Cuts Price for Alzheimer’s Drug Aduhelm by Half
Next Article Nuclear Power Has a Second Chance to Prove Itself Nuclear Power Has a Second Chance to Prove Itself

Editor's Pick

Fremont police ask for assist discovering ‘at risk’ lacking lady

Fremont police ask for assist discovering ‘at risk’ lacking lady

FREMONT — Police listed here are asking for the general public’s assist finding a woman who disappeared on Friday afternoon…

By Editorial Board 1 Min Read
9 Finest Hats for Large Heads – Completely different Types For Males in 2025 | Fashion
9 Finest Hats for Large Heads – Completely different Types For Males in 2025 | Fashion

We independently consider all advisable services and products. Any services or products…

17 Min Read
Brooke Hogan Written Out of Hulk’s Will (At Her Personal Request)
Brooke Hogan Written Out of Hulk’s Will (At Her Personal Request)

Studying Time: 3 minutes Brooke Hogan isn’t in her dad’s will, a…

4 Min Read

Oponion

Carry and Tighten Pores and skin—Plus the Finest Derm-Backed Lotions to Assist

Carry and Tighten Pores and skin—Plus the Finest Derm-Backed Lotions to Assist

We might obtain a portion of gross sales if you…

September 15, 2024

Rachel Reeves intent on ‘making Britain higher off’ on China journey – as she backs ‘non-negotiable’ funds | Politics Information

Making Britain higher off can be…

January 11, 2025

Our Design Editor Is HomeGoods Obsessed—Here is What She Shares Up on Throughout Each Journey

I’ve by no means been one…

September 24, 2024

Epic end! Granada rallies to beat Livermore, captures first league title since 2018

LIVERMORE — The win couldn’t be…

November 9, 2024

The Greatest Shampoo For Males You Can Purchase In 2024 | Fashion

We independently consider all really useful…

November 8, 2024

You Might Also Like

Microsoft joins unique T market cap membership after AI surge, becoming a member of just one different firm
Markets

Microsoft joins unique $4T market cap membership after AI surge, becoming a member of just one different firm

Angelo Zino, a CFRA Analysis senior fairness analyst, discusses the efficiency of Microsoft, Meta and the general tech sector within…

4 Min Read
Moderna plans to slash 10% of workforce as COVID shot gross sales gradual
Markets

Moderna plans to slash 10% of workforce as COVID shot gross sales gradual

Rep. Russell Fry, R-S.C., discusses the Home probe into Pfizer’s launch of COVID vaccine outcomes and extra on ‘Varney &…

3 Min Read
Figma goes public, and the CEO was a fellow at Peter Thiel’s basis
Markets

Figma goes public, and the CEO was a fellow at Peter Thiel’s basis

‘Making Money’ host Charles Payne discusses whether or not the inventory market is a coiled spring able to explode or…

5 Min Read
Zuckerberg needs to offer everybody their very own private superintelligence via Meta’s new imaginative and prescient
Markets

Zuckerberg needs to offer everybody their very own private superintelligence via Meta’s new imaginative and prescient

Meta CEO Mark Zuckerberg on Wednesday introduced the tech large will give attention to growing a private superintelligence for everybody, which…

4 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?