Sales by BYD, the country’s dominant automaker, topped 3 million last year, including 1.6 million fully battery-powered cars in a sign of China’s rapid growth in EVs.
The announcement underscores the threat to European and U.S. automakers posed by Chinese electric-vehicle manufacturers.
The country’s trade with Russia this year has exceeded $200 billion, and makers of cars and trucks are the big winners.
Volkswagen is shifting more operations to China, tapping the country’s electric vehicle capacity and building factories.
Two- and three-wheeled vehicles, used by billions of people, are moving away from fossil fuels to batteries faster than cars in countries that have made the energy transition a priority.
China misjudged the rapid expansion of its electric vehicle sector, leaving a shortfall of skilled technicians as young people shun manufacturing careers.
Some firms argue that a law aimed at popularizing electric vehicles risks turning the United States into an assembly shop for Chinese-made technology.
China and the U.S. both gained from their economic integration. As they pull apart, each is finding it will be hard to fully replace the other.
President Biden’s 2022 climate act spurred big investments in U.S. battery factories, but it has not similarly boosted E.V. sales.
America needs to invest in mining and build resilient supply chains for the building blocks of electric batteries.