UK media: Chinese factories are becoming a global electric vehicle manufacturing base.
On May 22, the Financial Times published an article stating that international automakers, struggling to survive the costly electric vehicle transition, are increasingly inclines towards technologically advanced and economical manufacturers in China as production bases for their global operations.
The article describes a leading European automotive group collaborating with a Chinese automaker to develop a new electric light multi-purpose vehicle for consumers in China, the Middle East, and Southeast Asia. The article argues that this collaboration is the latest example of a trend reshaping the global automotive industry.
A senior China automotive analyst at HSBC stated that this trend reflects a “rebalancing of global production bases.” She added, “China is playing an increasingly important role, not only as a cost-effective production center, but more importantly, with technological leadership and a vast supply chain advantage.”
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