As the global EV market has expanded, in 2024 more than 17 million units were sold, with Chinese manufacturers aggressively pursuing international opportunities, offering affordable vehicles that often undercut local competitors. As a result, according to rho motion, China holds 62% of the global EV market.

Market access for China automakers has varied significantly across regions. The US and Canada are the only markets where Chinese-made EVs have no presence. The US has taken a firm stance against Chinese EVs, imposing a 100% tariff in 2024, and more recently enacting laws banning Chinese technology in EVs on US roads. Canada followed suit with identical tariffs.

Europe, by contrast, has been more open to Chinese EVs but remains cautious about protecting its domestic automotive industry. In 2024, following an anti-subsidy investigation, the EU introduced variable BEV import tariffs on specific Chinese automakers of up to an additional 35.3%.

Meanwhile, in countries without a strong domestic auto industry, Chinese EVs have rapidly gained market share. This is especially evident in neighboring Asian countries and in South & Central America, rho motion says, where Chinese manufacturers are expanding aggressively by beginning to buildout production capacity and capitalizing on the demand for affordable electric vehicles.