Market share increases after strong demand within country offsets risks from western tariffs on Chinese-made EVs

Summary

China’s share of the global electric vehicle (EV) market surged to 76% in October, driven by domestic demand despite escalating western tariffs.

Between January and October, China accounted for 69% of global EV sales, with subsidies boosting local purchases.

The US and EU have imposed steep tariffs—up to 100% and 35%, respectively—on Chinese EV imports, complicating market access for Chinese automakers. Exports to Russia, however, have soared by 109% over two years.

Beijing has prioritized the EV sector as a cornerstone of its economic and green transition strategy.

  • Rentlar@lemmy.ca
    131·
    8 days ago

    Which is why the tariffs have been accurately labeled as a tax by Democrat critics. Because without domestic alternatives it is effectively a foreign goods tax.