No, China is even leading the global electric vehicle industry thanks to its diverse models and competitive prices, from low to high segments, which can meet all user needs.

According to the IEA, by 2024, total electric vehicle sales by Chinese automakers reach more than 11 million vehicles, accounting for 55% of the global market share. Meanwhile, revenue from US companies sold only 1.9 million vehicles and accounted for 10% of the global market.

China is outperforming all because its diversity and scale of production allow they to reach a wider range of customers rather than just focusing on the upper class like US companies are pursuing.


https://www.iea.org/reports/global-ev-outlook-2025/executive-summary