China has transformed itself from a minor player in the auto industry two decades ago to the world leader in car production and exports, particularly in electric vehicles (EVs), the New York Times reported late last month.
But the trend of China’s impact on the global auto market has been best characterized by this chart, published over the weekend, showing how Chinese car production has gone from 1% to 39% of global production in 20 years.
The rapid ascent was fueled by significant government investment, advancements in automation, and the growth of its domestic market, which is now the largest globally.
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Well, to be fair, China IS the largest market in the world for cars, even if they DO halt and catch fire an awful lot.
15 years ago when I was working in Beijing, I was told that all GM Buicks were being mfg’d in China.