The threat of Chinese EVs is very real, with one consulting firm calling it a 'rude awakening' for legacy car companies.
After being largely irrelevant on the global stage historically, Chinese car companies are coming to eat the world’s lunch. That’s not exactly news at this point; President Joe Biden’s steep new tariffs announced in May thrust the meteoric rise of China’s electric vehicle industry into the mainstream conversation. But we’re learning more and more about the threat that cheap and high-tech Chinese EVs pose to established players like Ford, General Motors, Volkswagen and even Tesla.
According to AlixPartners, Chinese brands enjoy a 35% cost advantage over other manufacturers thanks to lower labor costs and intense vertical integration . Experts also note that Chinese firms have received far more generous subsidies than their Western counterparts. From 2009 to 2023, the Chinese government lavished nearly a quarter-trillion dollars on EVs, according to research from the Center for Strategic and International Studies.
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