Overview

• China remains the global leader in electric vehicle production, with over 31 million vehicles produced in 2024, one-third of which were electric.
• Government policies, including subsidies and restrictions on combustion vehicles, have fueled the rapid growth of China's EV market and infrastructure since 2001.
• The Shanghai Auto Show highlights China's technological edge, with domestic brands like BYD and Nio setting industry trends in design and innovation.
• German automakers, including Volkswagen and BMW, introduced new EV models and announced strategic alliances with Chinese firms like CATL and Alibaba to close the innovation gap.
• Despite positive reception for new models, Volkswagen and BMW report declining sales in China, reflecting a cooling market and increasing competitive pressures from local brands.