China’s cheap EVs redraw the map of where cars get made

Companies like BYD Co and SAIC Motor Corp-owned MG produced more than half of all electric cars sold last year, the IEA said in its annual electric vehicle outlook report. — Reuters

China is set to change the map of global automaking by stepping up electric-car exports that will intensify mass-market competition, according to the International Energy Agency.

Companies like BYD Co and SAIC Motor Corp-owned MG produced more than half of all electric cars sold last year, the IEA said in its annual electric vehicle outlook report. And with more than 60% of EVs sold in China already cheaper to buy than equivalent combustion-engine models, manufacturers are well-placed to win market share, the agency said.