Namely, BYD, which owns over 40% of the overall local market. That’s not 40% of the local EV market, but 40% of the OVERALL market.
Namely, BYD, which owns over 40% of the overall local market. That’s not 40% of the local EV market, but 40% of the OVERALL market.
The US certainly. The EU is a bit of a different story. BEV sales in the Netherlands, Sweden, Denmark and Finland are around 50% already. Looking at the total market it is also quite decent and sees strong growth. There are quite a few cheap BEVs entering the market soon, so the share in other markets is probably going to increase.
Also the ICE phase out 2035 might stay. France and Spain both want to keep it. With the votes from the smaller EU members above, they can block it, since it needs a qualified majority to pass in the council. If that happens EV share is obviously going to increase quickly.
But they’re still heavily protectionist because competing with the Chinese would cause a lot of short term pain. But if we don’t go through this pain now, our industries won’t survive in the long term, at least not in their current form.