China’s EV, battery firms bolt into emerging markets as trade remains caustic

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China’s EV, battery firms bolt into emerging markets as trade remains caustic - SCMP

Quick Summary:

Although China’s electric vehicles are proving a sore spot for the US and EU, firms making the cars and their batteries are setting up facilities in emerging markets to meet a groundswell of demand.

For example, Geely-owned EV producer Polestar aims to outsource part of its vehicle production to Renault’s South Korean plant in Busan before the vehicles are shipped to the US,” Sebastian said.“The same is true for CATL’s licensing arrangement with Ford, which could be compliant based on current rules.

Regarding the US, the Rhodium report said a fraught political situation and regulatory uncertainties would slow the pace of Chinese carmakers entering the market, but it is “too big” to ignore.“To evade scrutiny, Chinese firms are becoming increasingly creative in their overseas engagements.