"China extends its lead over Europe and the US as it is the only country where EVs are on average cheaper to buy than comparable ICE vehicles."
An interesting snippet from this report. Do you know why EV's aren't cheaper than combustion engine cars in Europe & America? Because they are taxed with tariffs to make them artificially more expensive.
All of this is helping China in the long-run. Not only will they dominate in global transport manufacturing. They'll also set the technology standards in 21st energy and transport. Oh, and added bonus. With cheaper EV transport, all their other costs are cheaper & more competitive too.
Meanwhile with regional war looking more likely in the Middle East and gasoline prices probably due to steeply rise. Those cheap Chinese EVs are going to start looking even more attractive to global consumers.
Global Electric Vehicle Sales Set for Record-Breaking Year, Even as US Market Slows Sharply, BloombergNEF Finds