Comments by "D W" (@DW-op7ly) on "Europes madness reaches new levels; huge taxes on Chinese EVs changed" video.

@profounddamas The global south's heft in global affairs is growing as its share of output has risen: it accounts for roughly 40% of world gdp and around 85% of the world's population. Apr 12, 2024 TheEconomist
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@WolfetoneRebel1916 Chinese are not stooopid BYD had the backing of Buffet and some investment They are the only cars and some other models like Volvos owned by Chinese companies that will get in the EU markets Also BYD has to expand…. who had a different type of model fully integrated from ownership of its own lithium mines Right to its own 7000 car cargo ships which it is eventually getting 8 of them And let’s be honest the Chinese ain’t stoooooopid they know the USA and EU have been hostile to their goods and services for decades and decades why would you hang your hat on those markets. Then they would not have gone to these Global South/belt and road country partner markets first 30 million cars are sold in China every year Of that 10 million will be EV sales this year. A jump up from 8 million EVs sold last year. That still leaves 20 million ICE vehicles sold in China many of them manufactured by these legacy automakers from the EU and America
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@profounddamas China became the number 1 car exporter in the world selling to these Global South Countries While being blocked from the USA market and in the EU market China wad only projected to reach 20% of all the EVs sold in EU market Before the tariff hikes So yeah these markets could be important if they were open to Chinese EVs as the USA and EU raise tariffs… ensuring these won’t be export markets for vast majority of Chinese EV companies
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@profounddamas The Global South is on the rise – but what exactly is the Global South? Published: July 3, 2023 7.51am EDT By 2030 it is projected that three of the four largest economies will be from the Global South – with the order being China, India, the United States and Indonesia. Already the GDP in terms of purchasing power of the the Global South-dominated BRICS nations – Brazil, Russia, India, China and South Africa – surpasses that of the Global North’s G7 club. And there are now more billionaires in Beijing than in New York City. TheConversation
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@profounddamas in China they get a new car every 6 years regardless From what I’m reading in EV graveyards Most are taxis/rideshare that are being retired from wear and tear after 6 years, not because of battery issues (In most cases, taxis are driven 24/7 with multiple drivers)
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@PelleGIT Mexico? In 2022, Mexico's imports from China exceeded its exports by more than 100 billion U.S. dollars. In that year, the value of products imported from this Asian country reached approximately to 118 billion dollars, whereas exports totaled to about 10.8 billion dollars. Statista
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@PelleGIT Europe's listed firms expect to glean $514 billion in revenue from China LONDON (Reuters) - European listed firms expect to receive 449 billion euros (£392 billion) in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, a Refinitiv analysis of company data shows. The data underscores the role China's burgeoning middle class is increasingly playing in determining the corporate and economic health of Europe, as concerns grow that their spending has slowed as Chinese economic growth cools. Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW, derived the biggest chunk of revenues from China - with a total of 120 billion euros sales from the country, the analysis based on companies' estimates of their 2019 revenue shows. Reuters
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@PelleGIT as far as I’m concerned yes they are made in China But who make the most money Exported or in China selling to their domestic consumers 👇 Europe's listed firms expect to glean $514 billion in revenue from China LONDON (Reuters) - European listed firms expect to receive 449 billion euros (£392 billion) in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, a Refinitiv analysis of company data shows. The data underscores the role China's burgeoning middle class is increasingly playing in determining the corporate and economic health of Europe, as concerns grow that their spending has slowed as Chinese economic growth cools. Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW, derived the biggest chunk of revenues from China - with a total of 120 billion euros sales from the country, the analysis based on companies' estimates of their 2019 revenue shows. Reuters
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@profounddamas More than half of the electric vehicles (EVs) on roads worldwide are found in China. In 2022, new EV sales in China grew by 82%, and the country provided 35% of global EV exports. While the U.S., Norway, and other Scandinavian nations were early adopters of EVs, and Germany and Japan have long been automotive powerhouses, their EV markets have lagged in mass market adoption compared to China. How did China get to this point? What can companies looking to scale up their innovations learn from their approach? This article outlines three key reasons for the growth of China’s EV sector: experimenting in adjacent industries, encouraging operational solutions, and doubling down on core technology HarvardBusinessReview
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@avdp9095 obviously China cares… But You and the Chinese would be foolish to think westerners do not think in a zero-sum game type of matter What the first thought that comes to mind. If a Chinese company were to think about opening up a factory in the west???? Probably thinking slave labour, stealing, poor quality, tax payers footing the bill on tax breaks/financial incentives infrastructure building etc etc etc We in the west are clueless in the type of damage they could do to us…. Because they never pulled out their big trade weapons and do not believe in that zero-sum game type of thinking If I told you many western multinationals based in China derive 20% to 40% of their revenue from China you would probably not even bat an eye
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@PelleGIT but they are still considered Chinese cars We westerners are weird that way considering how much of the automotive supply chain is in China
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@PelleGIT India's trade deficit with China stood at $101.02 billion, surging past the $100 billion mark for the first time. In 2021, the deficit was $69.38 billion. TheWire
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@PelleGIT Why China-South Korea trade drop-off may persist as US influence weighs on chips and tech Caught between trade superpowers, Seoul saw South Korea’s exports to China fall 20 per cent in 2023 while imports from China decreased 8 per cent, year on year Analysts suggest South Korea’s trade deficit with China will persist as Beijing reduces dependence on foreign chips South Korea, caught between the two superpowers, reported a trade deficit of US$18 billion with China in 2023 – its first such deficit since they established diplomatic relations in 1992, according to data from the South Korean Ministry of Trade, Industry and Energy (MOTIE). SCMP
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@PelleGIT In 2023, China remained the top exporter of parts to Vietnam, with more than 90 per cent of the total value of imported “telephones and parts” coming from China. China is also the largest provider of electronics and parts for India, providing US$27.6 billion worth of electrical machinery and parts (which includes phones and their components) in 2023. And as of 2023, roughly 90 per cent of components feeding Tata Electronics, India’s sole homegrown iPhone assembler, originated from China. Indeed, both ‘Made in Vietnam’ and ‘Made in India’ mobile phones still substantially rely on imports from China. AsiaPacific
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@PelleGIT As reported, China has been Brazil's largest trading partner, export market and source of trade surplus for 15 consecutive years. Total bilateral trade jumped 33.3 percent year-on-year in January and February to $31.8 billion, driven by a 33.1 percent increase in Brazil's exports to China. It should be noted that both Brazil's exports to and imports from China rose in the period, which is a win-win result. GT
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@PelleGIT Europe's listed firms expect to glean $514 billion in revenue from China LONDON (Reuters) - European listed firms expect to receive 449 billion euros (£392 billion) in total revenue from China in 2019, with luxury brands and automakers the most exposed sectors, a Refinitiv analysis of company data shows. The data underscores the role China's burgeoning middle class is increasingly playing in determining the corporate and economic health of Europe, as concerns grow that their spending has slowed as Chinese economic growth cools. Among the pan-European STOXX 600 index, consumer firms including Swatch, Richemont and BMW, derived the biggest chunk of revenues from China - with a total of 120 billion euros sales from the country, the analysis based on companies' estimates of their 2019 revenue shows. Reuters
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@PelleGIT China has a 820 billion dollar trade surplus with the world these days And yeah exports to the USA and EU are dominated by Western Multinationals who make the lions share of the profits And the Chinese companies are trading with the Global South Countries/Belt and Road country partners So there is the divide And yeah if those made in China Items were really considered to be US or EU products People probably would realize the companies getting those tax break back home and the ones making the biggest profits exporting their goods back to the west Whose high flying stocks are in our pension and investment portfolios While making big profits in China with their consumers as well
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@PelleGIT Special Report: How smuggled workers power 'Made in China The smuggling of illegal workers from Vietnam across the 1,400-km (840-mile) border into China is growing. Labor brokers estimate that tens of thousands work at factories in the Pearl River Delta, which abuts Hong Kong. Workers from other Southeast Asian nations are joining them. Visits by Reuters to a half-dozen factory towns in southern China revealed the employment of illegal workers from Vietnam is widespread, and authorities often turn a blind eye to their presence. Workers from Myanmar and Laos were also discovered to be working in these areas. Reuters
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@PelleGIT For the west it’s about China closing itself off to them especially the USA It not about trade deficits because we in the west tend to consume more than we produce So we trade with XYZ country we will have trade deficit with them Our western countries /multinational corporations want more or better access to Chinese domestic markets, even though in 2018 when trump started his trade war, just US multinationals based in China alone and their subsidiaries, had 392 billion in sales for their goods and services in China In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities Which their Government in 2010 started to crackdown on this speculation Which our western 1%ters and their multinational corporations don’t like They wanted those overheated real estate markets. They want those Chinese buying their 4th and 5th homes right about now (Even though there is a few hundred million less well off rural folks, who they are expecting to migrate to the cities where they can’t find affordable housing as Property Developers build higher end homes that make them more money) That’s because our western 1%ters and their multinational corporations want to be the ones loaning out that money for those homes Getting at those high Chinese saving's getting them to spend them on their goods and services and then borrowing to spend some more like they did to us (although we the average westerners are also at fault as we played our part by borrowing and spending) The Chinese just ain’t playing ball so they are obviously the bad guys to our elite western 1%ters 👇 Project Syndicate The value of global China China faces important questions about whether and to what extent it should continue to pursue opening up its economy to the rest of the world, write Jonathan Woetzel and Jeongmin Seong in Project Syndicate. In any case, China and the world face important questions about the trajectory of their mutual engagement. At stake, according to our simulation, may be some $22-37 trillion in economic value – or 15-26% of world GDP – by 2040. McKinsey
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@philgooddr.7850 China is still considered a developing country by the WTO A decade ago people were complaining about China being the worlds biggest polluter Now it’s China subsidized this plus that and over capacity 🙄 Maybe it’s time for these richer countries to put even more money into fixing the climate change they fear so much Because let’s get one thing straight every country is subsidizing their auto industries Plus worldwide oil subsidies hit 7 trillion in 2023 If they don’t have an auto industry then their clean, green, renewable etc etc etc It’s just the Chinese are doing it on a massive scale Maybe you want your grandkids to go back to the cart and horse 50 years from now Because worldwide oil reserves are projected to last 50 years. And there ain’t looking to be any better options right now While worldwide Rare Earths deposits are expected to last 400 years. China just found another new RareEarth deposit expected to last 120 more years on top of that Plus when it comes to lithium and Nickel. China can replace the mining of those minerals through recycling within 25 years 👇 JANUARY 30, 2023 3 MIN READ China Invests $546 Billion in Clean Energy, Far Surpassing the U.S. China accounted for nearly half of the world's low-carbon spending in 2022, which could challenge U.S. efforts to bolster domestic clean energy manufacturing Nearly half of the world's low-carbon spending took place in China, according to a recent analysis from market research firm BloombergNEF. The country spent $546 billion in 2022 on investments that included solar and wind energy, electric vehicles and batteries. Scientific American 👇 Analysis: Clean energy was top driver of China’s economic growth in 2023 Other key findings of the analysis include: Clean-energy investment rose 40% year-on-year to 6.3tn yuan ($890bn), with the growth accounting for all of the investment growth across the Chinese economy in 2023. China’s $890bn investment in clean-energy sectors is almost as large as total global investments in fossil fuel supply in 2023 – and similar to the GDP of Switzerland or Turkey. Including the value of production, clean-energy sectors contributed 11.4tn yuan ($1.6tn) to the Chinese economy in 2023, up 30% year-on-year. Clean-energy sectors, as a result, were the largest driver of China’ economic growth overall, accounting for 40% of the expansion of GDP in 2023. Without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by only 3.0% CarbonBrief
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@WolfetoneRebel1916 BTW there are reasons why BYD was delivering 7000 car cargo ships to the EU at the beginning of the year They were anticipating those Tariff hikes But it’s a nice narrative for the haters 👇 BYD’s EXPLORER NO.1 Embarks on Historic Maiden Voyage 15 January 2024 BYD marks a revolutionary milestone with the maiden voyage of its first ro-ro carrier, EXPLORER NO.1. The EXPLORER NO.1 significantly enhances BYD’s international logistics capabilities amidst global shipping constraints. BYD plans to expand its eco-friendly fleet by adding seven additional vessels over the coming two years. The EXPLORER NO.1, proudly bearing the BYD nameplate, will undoubtedly provide a significant boost to BYD’s international logistics capabilities amidst constrained global ro-ro shipping resources. Measuring 199.9 meters in length, the vessel also exemplifies BYD’s commitment to sustainable shipping owing to pioneering advancements in green and intelligent shipbuilding technologies. With an exceptional loading capacity of 7,000 vehicles, the EXPLORER NO.1 is equipped with an innovative dual-fuel LNG (liquefied natural gas) and conventional fuel propulsion system. Over the next two years, seven more vessels are expected to join the fleet, all integrating BYD’s energy storage battery tech and shaft generator systems, truly embodying BYD’s vision for a greener maritime transportation era. BYD Press
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@profounddamas The Real Story of That Chinese EV Graveyard Isn’t What You Were Told They’re left behind from a big business gone bust, but that business wasn’t making EVs. However, a closer look reveals the opposite to be true: These are not new EVs, and they only number in the hundreds. Most are five to six years old and have seen significant use, with aftermarket accessories, trash in their interiors, and other signs of wear. That's because you're looking at a fleet of retired rideshare cars that were once operated in large cities in China. thedrive
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@profounddamas How long do electric car batteries last? What 6,300 electric vehicles tell us about EV battery life Last updated on May 31, 2024 How long do EV batteries last? According to research from Geotab, the simple answer is that if the observed EV battery degradation rates are maintained, the vast majority of batteries will outlast the usable life of the vehicle and will never need to be replaced. Based on data from over 6,000 electric vehicles, spanning all the major makes and models, Geotab finds that EV batteries are exhibiting high levels of sustained health. Across all vehicles, on average, an EV battery degrades at 2.3% per year. Do electric car batteries wear out? Of course, like all batteries, they will eventually wear out, but in most cases, this will be long after the vehicle’s life-cycle is complete. See also: To what degree does temperature impact EV range? Do electric cars lose range over time? Technically, yes. What this means for an electric vehicle’s range is, if you purchase an EV today with a 150-mile range, you would lose about 17 miles of accessible range after five years. This decline is not likely to have a significant impact on most drivers’ day-to-day needs, but it is a factor fleet managers will need to consider when it comes to maximizing the value of their EVs. Importantly for consumers, car makers commonly offer a warranty on EV batteries for around eight years or 100,000 miles. This is the federal minimum in the United States and it varies by manufacturer and country. But by all accounts, electric car batteries should last much longer than that. GeoTab
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@ClownCarCoup obviously China cares… But You and the Chinese would be foolish to think westerners do not think in a zero-sum game type of matter What the first thought that comes to mind. If a Chinese company were to think about opening up a factory in the west???? Probably thinking slave labour, stealing, poor quality, tax payers footing the bill on tax breaks/financial incentives infrastructure building etc etc etc We in the west are clueless in the type of damage they could do to us…. Because they never pulled out their big trade weapons and do not believe in that zero-sum game type of thinking If I told you many western multinationals based in China derive 20% to 40% of their revenue from China you would probably not even bat an eye
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@PelleGIT he still has a stake And the stated reason for selling in the past was the geopolitical tensions The western powers ain’t going to allow the Chinese to sell their cars to their consumers without putting up barriers It’s embarrassing how posters feign this ignorance
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@PelleGIT What most people Americans like you don’t get? Is it is mostly US multinationals making the lion share of those profits inflating the trade deficit between China to the USA Where Chinese companies mostly trade with their Belt and Road country partners these days These US multinationals are the ones sending you that junk These US multinationals are still using the same highly polluting labour intensive factories formula. As they were using more and more illegal labour in their Chinese factories, smuggled in from South East Asia. Or more and more automation in their wholly owned factories in China these days These are the same companies who got those trump Corporate tax cuts you for sure cheered about Same companies based in China who derived 392 billion in sales of their goods and services into those Chinese domestic markets in 2018 when trump started his trade war Same companies averaging 20% to 40% of their earnings from China whose high flying stocks are in your 401k/Pensions Same companies who the American farmer and consumer were sacrificed. So the USA could try and get “more” or “better” access for the US multinationals, into those Chinese Domestic markets during the trade war Same companies whose HQ is in a North American city you can easily go stand outside and protest at…. Why didn’t China pull the nuclear trade option and boot these US companies you might ask? For one, it would crash the US Economy And the Chinese don’t believe in a zero-sum game type of thinking As I can show you during the trade war. China didn’t pull out their big trade weapons, in fact they were lowering tariffs to most countries not raising them 👇 Trump’s ‘trade war’ with China won’t be so easy to win Having learned these value chain lessons, Beijing has worked hard to bring more of the high-value-adding parts of value chains into China, and to build hi-tech industries in which it can establish a globally competitive position. China has successfully done this in areas like high-speed trains (CRRC), digital telecoms networks (Huawei), drones (DJI) and hi-tech batteries (BYD). Trump’s team is not wrong to be worried about China’s competitive emergence here, and to target these new-tech sectors in the latest trade war sortie. But here’s the problem: China exports almost none of these new-tech products to the US, making US tariff threats meaningless. Rather, they go to developing economy markets – many embraced by the Belt and Road initiative – where China has succeeded in building a hi-tech, high-value brand reputation. As Trump’s team will quickly learn, the challenge of finding China’s pain points is bigger than expected: for a decade China’s priority has been to base growth on the domestic consumer economy and reduce reliance on the low-value-adding export processing industries (many of which are US- or Hong Kong-owned and concentrated in the Pearl River Delta) SCMP
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@PelleGIT bottom line if the Chinese wanted to wipe out these European car manufacturers export profits and domestic profits they make in China They could Not that hard to understand if you read the articles
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@PelleGIT Has everything to do with it if you think from a zero-sum game mentality We can talk trade deficits with the USA and EU But they are mostly their own multinationals exporting back to the USA and EU BUT they are also selling to Chinese consumers 👇 U.S. companies with China operations look to the Asian giant for growth U.S. multinationals' majority-owned affiliates in China brought in sales of $392.7 billion in 2018, up 4.8% from a year ago, according to the latest available data from the U.S. Bureau of Economic Analysis. CNBC
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@PelleGIT no you don’t get it Chinese are trading with Countries who are growing in need of investment and goods and services Our Western Governments like the USA and EU are in China making the most profits inflating those Chinese export figures to the USA/EU and Also selling their goods to the domestic Chinese consumers What most people like you don’t get? Is it is mostly US multinationals making the lion share of those profits inflating the trade deficit between China to the USA Where Chinese companies mostly trade with their Belt and Road country partners these days These US multinationals are the ones sending you that junk These US multinationals are still using the same highly polluting labour intensive factories formula. As they were using more and more illegal labour in their Chinese factories, smuggled in from South East Asia. Or more and more automation in their wholly owned factories in China these days These are the same companies who got those trump Corporate tax cuts you for sure cheered about Same companies based in China who derived 392 billion in sales of their goods and services into those Chinese domestic markets in 2018 when trump started his trade war Same companies averaging 20% to 40% of their earnings from China whose high flying stocks are in your 401k/Pensions Same companies who the American farmer and consumer were sacrificed. So the USA could try and get “more” or “better” access for the US multinationals, into those Chinese Domestic markets during the trade war Same companies whose HQ is in a North American city you can easily go stand outside and protest at…. Why didn’t China pull the nuclear trade option and boot these US companies you might ask? For one, it would crash the US Economy And the Chinese don’t believe in a zero-sum game type of thinking As I can show you during the trade war. China didn’t pull out their big trade weapons, in fact they were lowering tariffs to most countries not raising them 👇 Trump’s ‘trade war’ with China won’t be so easy to win Having learned these value chain lessons, Beijing has worked hard to bring more of the high-value-adding parts of value chains into China, and to build hi-tech industries in which it can establish a globally competitive position. China has successfully done this in areas like high-speed trains (CRRC), digital telecoms networks (Huawei), drones (DJI) and hi-tech batteries (BYD). Trump’s team is not wrong to be worried about China’s competitive emergence here, and to target these new-tech sectors in the latest trade war sortie. But here’s the problem: China exports almost none of these new-tech products to the US, making US tariff threats meaningless. Rather, they go to developing economy markets – many embraced by the Belt and Road initiative – where China has succeeded in building a hi-tech, high-value brand reputation. As Trump’s team will quickly learn, the challenge of finding China’s pain points is bigger than expected: for a decade China’s priority has been to base growth on the domestic consumer economy and reduce reliance on the low-value-adding export processing industries (many of which are US- or Hong Kong-owned and concentrated in the Pearl River Delta) SCMP
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@PelleGIT Secret: The Richest Chinese Make All Their Money Selling To Chinese Consumers And Exports To America Are A Joke 95% of the richest Chinese found in the latest Hurun Report made their money not by selling products to foreigners, but rather by selling products domestically -- to the Chinese consumer. Under 5% of China's richest (ie. those with $150 million or more) are dependent on exports for their wealth. The list of ten richest Chinese shows the same phenomenon, with mostly businesses focused domestic consumption BI
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@PelleGIT technology from the west???? China leads in 37 of 44 critical technologies of the future That’s how narrow minded we westerners are…. as we concentrate on the 7 technologies the Chinese are behind in conveniently overlooking the 37 technologies they lead the world in Like Semiconductors where they are behind …. we require their lithography machines to be 100% homegrown Which the Chinese have a 100% domestically made 28nm lithography machines that they can do that proprietary quadruple patterning Yet the difference is that world leading Dutch ASML company, sources 85% of in the parts from around the world, that go into their lithography machines While the Chinese lithography machines are 100% domestically made these days Because that’s the criteria we imposed on them Yet we view that they are behind The Chinese had “virtually” no chip making ability/foundries 6 years ago thanks to the USA who did the job for the Chinese Where their Government was trying to get their people to switch to homegrown chips before the sanctions These days they are producing chips at par with the rest of the world and only behind Taiwan in the most advanced Chips And more importantly China is now expected to take over those legacy chip markets If the USA was smarter instead of cutting off China from semiconductor chips and equipment for manufacturing They should have themselves and their allies, lowered prices even more, and dump even more chips on China Instead their idea was to force the hand of Chinese people at the time content with cheap imported chips. Hope they could not innovate When there is now a 7 volume 27 book series on what China invented first that says the world copied from them And like I said China leads the world in 37 of the 44 critical technologies of the future 🙄 At one point China was importing over 300 billion in chips a year Now they will probably be exporting around 200 billion dollars worth of their own homegrown chips per year, within the products they export 👇 How Close Is China to World Dominance in Legacy Semiconductors? 27-02-2024 | By Paul Whytock * Bread and Butter Technology Obviously, China would like to be a major player when it comes to high-end sophisticated semiconductor devices, but that doesn’t mean they are not interested in the bread-and-butter end of the market, particularly when it comes to legacy products. In fact, they are very interested in the legacy market, and there are some very good reasons why. Legacy devices make up a huge amount of global chip sales. Most chips manufactured today are not advanced chips but legacy chips, and around 71% of devices * China's Aggressive Expansion in the Semiconductor Industry In September 2023, Reuters reported that China was set to launch a new state-backed fund aimed at raising about €43bn to support its chip industry, and according to research analysts, the Rhodium Group, in less than ten years, China is expected to domestically add nearly as much 50–180nm wafer manufacturing capacity as the rest of the World. The views of industry analysts and observers vary, but generally speaking, it’s thought that 22 wafer fabs are being built in the country, and there is an overall plan to create a total of 30 new wafer fabrication plants. Many of these will concentrate on the production of legacy devices. As for market share, industry intelligence gatherers Trendforce believe China’s legacy chip manufacturing base could provide as much as 30% of the global demand for older devices. ElectroPages
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@Liboch Yup most folks don’t get 👇 This article is more than 10 years old. Oft-quoted, Dong Tao, a heavyweight economist at UBS in Hong Kong, once said: “A Barbie doll costs $20, but China only gets about 35 cents of that.” He was talking about global trade statistics at the time, but that proclamation might help explain why Chinese companies are increasingly shopping for and successfully acquiring storied brands, most recently, Ford’s Volvo. The lesson: the big money is in owning the brand, not just making it for foreign companies, Forbes
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@SuhandiWijaya I just did some calculations For 2023 there are 2 sets of numbers on total world wide car exports for China 5.22 million and 4.1 million cars If we use the 5.22 million cars figure where 70% are ice vehicles EV cars would make up 1.5 million of those world wide exports. Where the EU accounted for 300,000 thousand of those Chinese EV car sales in 2023 If we use the 4.1 million cars figure where 70% are ice vehicles (the most widely cited figure) EV cars would make up 1.2 million of those world wide exports. Where the EU accounted for 300,000 thousand of those Chinese EV car sales in 2023 👇 China comes just shy of Japan as the world’s largest car exporter JAN 31 2024 Japanese customs data showed the country exported 5.97 million vehicles last year, more than the 5.22 million vehicle exports that China customs data reported. More than 70% of China’s car exports in 2023 were of gasoline-powered vehicles, according to the Ministry of Commerce, noting that new energy vehicle exports were growing rapidly. CNBC 👇 Almost a fifth (19.5pc) of all EVs sold in Europe last year were produced in China, or around 300,000 units. ArgusMedia
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@olesebaole7095 China has not forced its people, to not buy Western brands. It’s only has incentivized its people to buy Chinese brands But with only 300 thousand Chinese EV cars sold in Europe in 2023 and this is their reaction? Virtually no Chinese cars sold in the USA and a 100% tariff Chinese people should really open their eyes to this I’ve seen in polls 70% of Chinese have a negative view on the USA Only like 30% to 40% have a negative view of Europe right now It’s mostly European multinational companies who generate 500 billion in revenue, sellimg their goods and services into the Chinese domestic markets every year And most of the exports going from China to the EU is by these same European multinational companies Who make the lions share of the profits inflating those Chinese export numbers
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@SuhandiWijaya yes China is expected to be 10 million EV cars this year It’s unfortunate the EU follows the USA lead
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@janjson435 while the trend is for the Chinese moving away from ICE vehicles 30 million cars are sold in China every year Of that 10 million will be EV sales this year. A jump up from 8 million EVs sold last year. That still leaves 20 million ICE vehicles sold in China many of them manufactured by these legacy automakers from the EU and America * I did see a a few recent projections 31 million cars sold in China 11 to 12 million EVs for 2024 But those projections were coming from a single sources
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