China's EV Makers Expand Globally Amid Market Challenges

Global electric vehicle (EV) markets are experiencing robust growth despite ongoing tariff uncertainties and geopolitical tensions. In Europe, EV sales surged by 23.9% in early 2025, reaching a 15.2% market share, while hybrid vehicles also saw significant gains, signaling a strong consumer shift toward sustainable mobility. Meanwhile, in China, local automakers such as BYD, Great Wall, and Geely are expanding internationally, leveraging their expertise and scale to compete globally, though they face challenges from new tariffs imposed by the U.S. and EU. At the Shanghai auto show, automakers emphasized both the rapid adoption of EVs domestically, bolstered by government incentives, and the increasing difficulty of accessing overseas markets due to trade barriers. In the U.S., automakers like Ford are highlighting domestic production in response to tariff threats, as the industry braces for potential disruption from new trade policies. Overall, the EV sector's momentum reflects innovation and environmental priorities, even as manufacturers navigate a complex global trade environment.