Foreign media: The decline of the U.S. electric vehicle (EV) industry is allowing China to capture a larger share of the global EV market. Since 2023, China's automotive industry has become the world's largest auto exporter, with its electric vehicles experiencing rapid growth in global sales. From 2020 to 2025, China's EV sales soared from about 572,300 units to 4.95 million units, while sales in other regions of the world increased from less than 33,000 units to over 474,000 units.
At the same time, U.S. automakers such as General Motors (GM), Ford, and Stellantis have announced asset impairments exceeding $2.7 billion due to poor EV sales, and have recently cut back on their EV plans, shifting focus back to gasoline-powered vehicles.
Tesla has also been surpassed by Chinese automakers. Its Model S and X models have been discontinued, and it has shifted production toward robots. Chinese automakers, benefiting from official support, vertically integrated supply chains, and rapid innovation, are accelerating their expansion into global markets. Their market share has grown by nearly 70% over the past five years and may enter the U.S. market in the future, posing a threat to U.S. automakers.
Original article: toutiao.com/article/1856388908251395/
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