The unraveling of the transition to electric cars in the U.S. and Europe has handed Chinese automakers an opportunity to cement their dominance in the electrification race, according to analysts.
In two blows to the outlook for EVs, the European Commission on Tuesday effectively abandoned its ban on combustion engine vehicles by 2035. A day earlier, Ford Motor announced it would take $19.5 billion in charges tied to a retreat from its electric strategy.
That creates a gap that Chinese carmakers, who have strengthened their position as the leading producers of EVs over the past decade, can fill, with companies like BYD and Xiaomi making rapid advances with in-cabin technology, advanced driver assistance systems and ultra-fast charging. In contrast, Ford is scrapping plans for electric F-Series trucks and will shift production toward gas and hybrid vehicles.
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