China's Electric Vehicles Expand Globally
A recent report from Bloomberg states that Chinese electric vehicle companies are accelerating their pace of investment globally.
According to data from the Rhodium Group cited by Bloomberg, new energy vehicle supply chain companies invested approximately $16 billion overseas in the past year, with most of the investments going to battery factories. This figure has exceeded domestic investments in China (approximately $15 billion) for the first time. The institution refers to this shift as a "watershed" in the industry's expansion path.
International Welcome... but the U.S. Remains Cautious
Although countries such as Brazil and Hungary have welcomed the construction of new factories, Bloomberg notes that the U.S. remains opposed.
Bloomberg pointed out that Bessen had completely ruled out the idea of including Chinese investments in any trade agreement Washington might reach.
New Factories in Latin America and Europe
One notable example mentioned in the report is BYD's factory being built in the Camaragibe area of Salvador, Brazil, which is the company's first electric vehicle factory outside Asia.
Bloomberg believes that such projects represent a "new wave of Chinese investment targeting emerging markets and Eastern Europe," potentially opening a new chapter in global automotive competition.
The report concludes that the overseas expansion of Chinese electric vehicle companies may change the game globally, but "will not please Washington."
Sources: Bloomberg
Original: www.toutiao.com/article/1841113302998155/
Disclaimer: This article represents the views of the author himself.