Upstart Asian carmakers set buoyant targets, underscoring a shift in the automotive sector as it grapples with the transition to electric vehicles. Chinese manufacturer Chery forecast 13% growth in car sales in the year ahead, and compatriot Geely sees its sales figure rising to 5 million in 2027 from 3 million last year. EV behemoth BYD, meanwhile, recently reported record sales. Elsewhere, Vietnamese EV maker VinFast plans to double its production capacity, Nikkei reported. The shifting sands of automotive sales have implications beyond legacy carmakers: They represent “a ‘soft power’ coup” for Beijing in particular, by positioning it as a clean tech leader, a Japan Times columnist noted. |