South Korean Media: Chinese Electric Vehicles Overwhelm Global Markets!
On May 28, South Korean media outlet NEWSPIM published an article stating that soaring oil prices are accelerating energy transition, and coupled with China's competitive edge in smart manufacturing, Chinese-made electric vehicles (EVs) are reshaping the global automotive industry.
Chinese brands, thanks to their outstanding cost-performance ratio and intelligent features, are becoming the dominant force in the global EV market—not only in developed regions like Europe and Oceania, but also in emerging markets such as Latin America and the Middle East, where they have secured overwhelming market shares.
By early 2026, overseas sales of Chinese electric vehicles are setting new historical highs. In the European market, sales of Chinese brands rose by 94% year-on-year from January to February, increasing their market share to 8%. Particularly in Germany, BYD’s sales surged by as much as 1,550.3% year-on-year.
Even in Australia—a market long dominated by Japanese automakers for 28 years—the shift is dramatic. The market share of Chinese brands has soared to 25%.
In Latin America and Southeast Asia, EV supply cannot meet demand. In the first two months of this year, BYD led the retail market in Brazil, capturing a staggering 78% share of the pure-electric vehicle segment. In key countries like Mexico and Chile, BYD’s market share doubled within just three months, highlighting growing supply shortages, with order backlogs stretching for several months.
In Thailand, Chinese EVs—led by BYD—have captured 86% of the market. The Thai factory is currently operating at full capacity, while orders from neighboring countries such as the Philippines have surged, effectively covering nearly the entire Southeast Asian market with eco-friendly Chinese vehicles.
Global automotive industry experts point out that China’s success lies in its “vertically integrated supply chain,” covering everything from batteries to software. Analysis shows this enables Chinese companies to improve products faster and shorten delivery cycles compared to their European and American counterparts.
While low pricing is important, high-quality intelligent features and refined design are equally critical competitive advantages. One analysis notes, “China has achieved economies of scale by achieving self-sufficiency in core technologies such as batteries and infotainment systems. This technological advantage and pace of innovation have become irreversible trends.”
Original Source: toutiao.com/article/1866418254943232/
Disclaimer: The views expressed in this article are solely those of the author.