Even if others catch up, China will continue to dominate global EV sales this year, according to GlobalData. "What happens in China will not stay in China," said Bill Russo, CEO of advisory firm Automobility.
"There's a difference between people's allegiances to their country and what they buy at the store," Russo said."One thing that's absolutely universal is people buy affordability."Toyota was the country's top-selling brandOn the other hand, the Inflation Reduction Act's EV tax credit rules mean that vehicles manufactured in China won't qualify for thePolitical sentiment and having to battle entrenched companies in a mature market are also barriers.
"By far the biggest obstacle is politics," Deutsche Bank analyst Edison Yu told Insider."You have a lot of anti-China sentiment." "If they can somehow overcome that, I think a lot of Chinese auto companies would love to get a crack at the market."
Just like GM sells 900,000 Buicks per year in China compared to 300,000 in the US. Their sales in the US could go to zero and they would still be ok.
Once again, an automotive media rag propagates the lie that phoney EVs (PHEVs) are the same thing as pure EVs. They're not. Cars with a gas tank, internal combustion engine, and exhaust pipes are not EVs, it's that simple (except to the media, always hungry to mislead about EVs).