China's electric carmakers have risen to global dominance, capturing a significant share of the market. According to Alix Partners, Chinese brands are expected to win one-third of the global car market by 2030. China already has the capacity to supply half of the global demand for vehicles. This rapid growth is evident as sales for six of the ten biggest electric vehicle (EV) makers, including Hyundai/Kia and Ford, climbed between 56% and 86% in the first quarter of 2024. Meanwhile, Tesla's sales dropped by 13% in 1Q2024, raising concerns about its position in the US market.
Tesla is no longer dominating electric cars – here's the story of EVs in 2024. https://t.co/PBGqZjefL8
In 1Q2024, #Tesla ’s sales dropped 13%Y - enough to trigger a panic about the US market - while sales rose at a scorching pace for 6 of the 10 biggest #EV makers, climbing anywhere from 56% at Hyundai/Kia to 86% at Ford, chart @business https://t.co/ZQHdIQSGJV https://t.co/qTmZOypiDw
Chinese brands will win 1/3 of the global car market by 2030, says Alix Partners. One in three. China already has capacity to supply half global demand for vehicles. The Great China Freight Train gathers speed. https://t.co/tTRYItXt28
Chinese brands will win 1/3 of the global car market by 2023 says Alix Partners. One in three will be Chinese. China already has capacity to supply half global demand for vehicles. The Great China Freight Train gathers speed. https://t.co/N0RyVw5RiJ
How China’s Electric Carmakers Rose to Global Dominance - Bloomberg https://t.co/75Vtg9q7TY