It’s been over a decade since Tesla revealed its Model S and changed how the world viewed electric vehicles. Once considered a luxury product for a select few, the arrival of affordable Chinese models and increased volatility in the crude oil market has turned the EV tide, with consumers now regarding these vehicles as truly viable alternatives.

China is the world’s biggest EV supplier, and growth is continuing, despite efforts by Europe and the US to hem them in. At the same time, diverging policies are splitting global markets, with Europeans attempting to adapt—with and against China—and new OEM markets rising in other corners of Asia.

These developments may impact China’s ambitious EV agenda, requiring Chinese OEMs to increasingly compete on quality and localisation, rather than pure price in markets like Southeast Asia and Latin America.

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