The Ledger
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China has enough capacity to meet half of global car demand
“China has enough capacity today to supply half the world's demand for cars, and it's not out of the question that one day China could be Capable of producing all the cars for everybody in the world.”
Chinese EVs cost 30 to 40 percent less than Western competitors
“In terms of comparison to Europe and the United States, they're 30 to 40% less expensive.”
Volkswagen will close plants and lay off 50,000 workers by 2030
“Volkswagen's come out and said between now and 2030, they'll lay off 50,000 people. This is unprecedented. They're closing plants for the first time since World War II.”
EVs jumped from 5 percent to 50 percent of China's market since 2020
“Electrics were five percent of the Chinese market in 2020. They're half now”
China has over 60 automakers and more than 100 car brands
“So one of the crazy things, you probably saw this in Solar too, so there are dozens and dozens of Chinese car makers. At last count, there's more than 60 And more than a hundred individual brands.”