Chinese Car Manufacturers Invested More in EV Technology Outside China Than Within China For The First Time in 2024. This is Mainly, But Not Exclusively, in batteries.
Accordance to the Rhodium Group, which came up with the figures, The Situation in 2024 was a significant deviation from the trend. In previous years, Chinese EV manufacturers invested much more within China than outside China, with 80 percent or more in 2021 and 2022. In 2023, investments within and outside China were already more balanced, and in 2024, for the first time ‘since the beginning of measurements,’ there were Higher Investments Outside China Than Within China.
These Investments Mainly Concern Battery Technology. This branch of the sport accounts for 74 percent of foreign and 69 percent of Domestic Investments. However, the production of ‘Chinese’ EVS Outside China is also Growing Rapidly, The Number Artists Conclude. They also note that despite the shifting trend, most of the money still goes to china itelf. Only 15 percent of the announced battery and EV Production Takes Place Outside China, Rhodium Concludes.