China’s Electric Vehicle Boom Reshapes Global Auto Industry
China’s electric vehicle (EV) industry has surged to global dominance, capturing 70% of EV sales in 2024, driven by companies like BYD and Geely. With advanced technology, low costs, and massive government support, China outpaces Western automakers, prompting concerns about competitiveness. Ford’s CEO called it a “humbling” challenge, as Chinese EVs expand into markets like … Read more