China reshuffles cards in the global automotive game

According to the Allianz Trade report, the shift to battery electric vehicles is a game changer for the European automotive industry. Alternative energy vehicle sales reached a record-breaking 4.4 million units in 2022, representing 47 percent of all new vehicle registrations in Europe. Battery electric vehicles (BEVs) led the way.

But the number one risk is China. Having recognized the potential of electric vehicles 15 years ago, China has since invested vast resources in building a…