Reported by Aide Bai, Peter Campbell’s China correspondent and global auto industry correspondent
China’s booming electric vehicle industry is expected to further cement its global dominance this year, leaving the U.S. and European EV industries struggling to catch up and posing a threat to foreign groups reliant on the world’s largest auto market.
Chinese consumers will buy about 8 million to 10 million electric vehicles in 2023, up from a record 6.5 million in 2022 and 3.5 million in 2021, according to company and analyst forecasts. That compares with nearly 3 million in Europe and 2 million in the United States.
Burns…
