Chinese EV makers go global in bid to boost profits amid price war at home

News Snapshot:

They are choosing to either assemble vehicles overseas or open more showrooms abroad to promote their smart EVs fitted with sophisticated in-car entertainment systems and high-performance battery packs, in hopes of taking market share from international marques like Volkswagen and Toyota. “Chinese EVs [are proving] to be quite attractive to car users worldwide because of their design and quality,” said Cui Dongshu, general secretary of the China Passenger Car Association (CPCA). “As a result, exports of Chinese-made EVs have rapidly increased since 2021. Trade barriers will not drag down their export growth.” According to CPCA data, the 50-odd EV builders...