By November 2022, sales of domestic electric vehicle (EV) brands and plug-in hybrids exceeded six million, double that of 2021 and a four-fold increase on 2020. This growth hit top joint venture brands hard, including BMW and Mercedes. The fast expansion of Chinese EV brands overseas, particularly in Europe where Tesla dominates the market, has caused a shipping facility shortage. Though they are still focused more on exports than investment in the overseas market, Chinese firms are investing heavily on pre- and after-sale facilities and services. Unlike traditional manufacturing where the control of engines and gearboxes means everything, EV producers are trying to control every part of the supply chain, from chips to lithium mines. For any Chinese or foreign brands, the choice of technology, particularly chips, will decide their future survival.
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