Wang Jian: It is hard to say whether the rise of China’s domestic electric vehicles can defeat European, American, Japanese and Korean manufacturers

China’s electric vehicle industry is on the rise. Among the electric vehicles sold in China in 2022, 80% will be produced by Chinese car companies. These companies usually receive local government subsidies in the cities where they set up factories. Major Western automakers are reducing their investment in China. Ford Motor has become the latest example of withdrawing from the Chinese market. At present, the only company in China that can compete with domestic electric vehicles is the US Tesla that implements a price reduction strategy. The lithium battery industry, which is a key element of electric vehicles, is also under the control of Chinese companies. Wang Jian, an independent media person, said that 82% of the world’s production capacity is controlled by Chinese companies. Western car manufacturers hope to cooperate with Chinese companies based on the consideration of supply chain security. Overseas cooperation to set up factories has also raised concerns related to national security, such as the Virginia government’s rejection of Ford’s plan to cooperate with Ningde Times to build factories. China’s domestic electric vehicles are still mainly sold domestically. Wang Jian believes that it is still hard to say whether Chinese electric vehicle companies can defeat traditional Western car manufacturers.

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