Chinese automotive brands are expected to achieve 33-per-cent market share across the globe by 2030, including 20-per-cent market share in Mexico, according to a report by the consulting firm AlixPartners.
AlixPartners analysts highlighted how Chinese automakers have released a flurry of announcements about battery-electric vehicle production and assembly outside of China. BYD, Chery and Great Wall have touted plans for production in Mexico. BYD and Great Wall have also announced manufacturing plans in Brazil and Europe, while SAIC MG, Chery, LeapMotor and Geely have announced production in Europe.
"What that means is, for the foreign companies, that is basically a shrinking market," said Wakefield.
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