Chinese EV makers seeking global growth as demand at home slows
Chinese EV makers are charging ahead with bold targets for 2026, even as demand at home slows. They are looking overseas for growth — a timely reprieve after China and the European Union agreed to a price floor on EVs, replacing tariffs of up to 35.5%. XPeng's global sales more than doubled last year from 2024, growing nearly five times faster than market leader BYD. Meanwhile, BYD unseated Tesla for the top spot, even though its domestic sales grew 7.7%, the slowest pace in five years. Deborah Wong reports on the increasingly crowded market.
Chinese EV makers are charging ahead with bold targets for 2026, even as demand at home slows. They are looking overseas for growth — a timely reprieve after China and the European Union agreed to a price floor on EVs, replacing tariffs of up to 35.5%. XPeng's global sales more than doubled last year from 2024, growing nearly five times faster than market leader BYD. Meanwhile, BYD unseated Tesla for the top spot, even though its domestic sales grew 7.7%, the slowest pace in five years. Deborah Wong reports on the increasingly crowded market.
Popular Shows
