China’s automakers take the world by storm

Chinese makers of electric vehicles have come out in force for this week’s IAA Mobility auto show in Munich, Germany.
There are about 50 companies attending the event, including BYD and upstarts like Xpeng, according to China’s state media, about twice as many as the last time the event was held and the largest delegation ever from China. There was a lot of talk about them.
Renault chief executive Luca de Meo talked up Chinese EV makers’ rapid advances even before the show began.
There is no doubt that they are very competitive in the electric car value chain. Meo told RTL Radio Monday that the younger generation is ahead of us. It’s imperative that we catch up as soon as possible.”
In Europe, Australia, and Southeast Asia, Chinese electric cars are making inroads because they are cheaper than other models. Global EV sales may eventually be dominated by Chinese brands, according to competitors.
According to a post on the website of the China Association of Automobile Manufacturers, China overtook Japan in the first quarter of this year as the world’s largest auto exporter.
According to data released by the China Passenger Car Association on Friday, passenger car exports surged 72% to 2.3 million units, a quarter of which were electric. In August alone, BYD exported more than 25,000 electric vehicles, followed by Tesla China with 19,465 vehicles.
Sales of Chinese electric vehicles are booming in Europe, China’s top target market for car exports.