The News
Chinese electric vehicle makers are adapting to tougher tariffs and market prospects in the US and Europe by expanding in the Global South. EV giant BYD on Monday announced it will build a $1 billion plant in Turkey, which has a customs agreement with the European Union. Meanwhile in Africa, Neta Auto recently opened a flagship store in Kenya — its first on the continent — and Xpeng Motors unveiled plans to sell two EV models in Egypt.
Southeast Asia, in particular, has witnessed a boom in Chinese EVs: Just last week, BYD opened its first regional factory, in Thailand. “Southeast Asia’s relatively neutral geopolitical stance provides a window of opportunities for companies from China to expand,” one Hong Kong-based economist said.
