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In 2023, China's automobile export volume skyrocketed to the top globally for the first time, with a significant increase in sales of new energy vehicles or NEVs. Not only has the domestic NEV industry chain continuously improved in recent years, but they now account for a very large share of the global market. What's behind the impressive growth of China's NEV sector? How does it fare in the bigger picture of China's high-quality development? And is China trying to "outdo the West by dominating this market", as some foreign media have suggested?
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In 2023, China's automobile export volume skyrocketed to the top globally for the first time, with a significant increase in sales of new energy vehicles or NEVs. Not only has the domestic NEV industry chain continuously improved in recent years, but they now account for a very large share of the global market. What's behind the impressive growth of China's NEV sector? How does it fare in the bigger picture of China's high-quality development? And is China trying to "outdo the West by dominating this market", as some foreign media have suggested?
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