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Source: Overseas Network

Overseas Network, August 5According to a report on the South China Morning Post website on the 3rd, Chinese electric vehicle and battery manufacturers continue to expand their influence in emerging markets such as Latin America. For example, BYD and CATL have announced plans to enter overseas markets.

BYD signed a multi-year cooperation agreement with Uber, an American online car-hailing company, on July 31 to introduce electric vehicles to the European and Latin American markets. CATL will acquire the mining rights of two lithium salts in Bolivia after forming a consortium with a mining company.

An analyst from the Economist Intelligence Unit said that due to the large amount of incentives and subsidies provided by various countries, the demand for electric vehicles in some markets will explode. Zhang Xiang, secretary general of the International Intelligent Transportation Technology Association, said: "Some countries have issued regulations requiring automakers to invest and build factories in local areas when the scale of imports exceeds a certain level. For example, Thailand and Brazil have such policies. Some large Chinese automakers will choose to invest overseas because the demand for electric vehicles in these markets is high and the manufacturers will get reasonable returns." (Li Fang)

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