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Chinese makers of electric vehicles had an eventful 2024, marked by new production and sales records as well as fierce competition that left some upstarts by the wayside and few EV manufacturers with profits to match their industriousness.
Since July, the EV penetration rate has exceeded 50 per cent in China, buttressed by government consumption subsidies. Meanwhile, as domestic EV sales rise, some foreign carmakers are facing an existential challenge in China, which has been responsible for a significant proportion of their global sales over the past couple of decades.
Meanwhile, Chinese EV exports weakened in 2024 as the European Union, the United States and Canada all erected significant tariff barriers to EVs that are made in China.
South China Morning Post Shanghai bureau chief Daniel Ren recently summarised some of these trends in a China Future Tech industry briefing (exclusively for SCMP Plus subscribers – click here for a free trial), and he’ll take part in a panel moderated by SCMP Plus editor Jacques van Wersch.
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Join Jacques, Daniel, SCMP technology editor Zhou Xin as well as special guest Paul Gong, UBS head of China Autos Research, for a discussion of the following topics, among others: