EV Revolution
After years of investing in Europe, Chinese EV and battery firms are turning to Asia, Africa, and Latin America
Chinese electric-vehicle companies have invested big bucks over the past decade to establish their global supremacy.
Companies such as CATL and BYD, among others, poured $143 billion into foreign EV and battery ventures between 2014 and 2025, according to data from independent research provider Rhodium Group. With Western trade barriers forcing Chinese companies to rethink their approach to global expansion, in 2024, for the first time, they spent more on building the EV supply chain abroad than at home. “China’s outward investment in the EV ecosystem reflects a deliberate ‘go global’ strategy to secure its full value chain, from raw materials to finished vehicles, as geopolitical frictions and market access barriers rise,” Bill Russo, founder and CEO of Shanghai-based advisory firm Automobility Limited, told Rest of World.
Two countries received the highest EV investment from Chinese firms: Hungary attracted $18 billion, while Indonesia pulled in $22 billion, Rhodium data shows.
