China Could Have One-Third Of Global EV Market

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“Many insurance companies encourage their policyholders to retrofit their homes to resist wind-related damage, and some companies have established discount programs to reduce premiums, or other types of financial incentives, to reflect the risk reduction for homes that have been properly retrofitted.

EVs No –Move Back To Gas Powered Cars

AlixPartners, a major consulting firm, believes Chinese cars could overwhelm much of the car industry by the end of the decade in a new analysis titled “The Traditional Automotive Operating Model Must Change as China Brands Poised to Capture One-third of the Global Automotive Market by 2030.” The author writes, “By 2030, Chinese brands will be a dominant force around the world, selling 9 million units outside China, for a 33% global share. Growth will be built on cost advantages; localized production strategies that will enable a build-where-you-sell strategy in non-China markets.”

Will NAFTA Help?

The EU and US have done their best to block the march of Chinese companies into their markets. Each has erected tariffs. However, there is a chance that large Chinese EV companies like BYD could build plants in Mexico and use NAFTA to move those vehicles into the US without tariff payments. It is clear the biggest Chinese EV manufacturers are willing to put plants in a place like the US, much the way German and Japanese companies did several decades ago.

If Chinese EV companies capture a third of the global market, and traditional car companies do not have large fleets of EVs, the situation could be disastrous.

Climatecrisis247 believes that if the forecast is true, it could quickly undermine the sales and profits of the world’s largest car companies. One critical part of the forecast is that Chinese companies are willing to build cars locally, not just in China. If the prediction is true, traditional car manufacturers will need large fleets of cheap EVs with features attractive to people who currently drive gas-powered cars.