And to finish off this week, one more article about an industry that is a a) high tech b) in demand (and aspirational) across the world c) China dominates already and will likely do so even more in the future.
Chinese electric vehicle (EV) companies have invested a massive $143 billion between 2014 and 2025 to establish global dominance in the EV industry. Leading firms like CATL and BYD have focused on building a worldwide supply chain that covers everything from raw materials to finished vehicles. This global expansion is part of a deliberate strategy to secure resources and production capabilities amid rising geopolitical tensions and trade barriers.
Two countries have attracted the largest share of Chinese EV investments: Indonesia and Hungary. Indonesia, the world's biggest supplier of nickel--a key battery mineral--has drawn $22 billion in investments. Chinese companies control most of Indonesia's nickel refining capacity and are helping build a local EV supply chain. The Indonesian government's ambitious goal to have millions of electric cars and two-wheelers on the road by 2030 makes it an attractive market. Hungary, on the other hand, has received $18 billion and is becoming a major battery production hub in Europe, supported by favorable policies and strong ties with China.
Chinese firms are also expanding their presence in Africa, Latin America, and other parts of Asia, investing in mining, refining, and manufacturing. Africa has recently seen a surge in investments focused on raw materials, while Latin America is becoming a center for vehicle assembly. Despite these efforts, Chinese companies face challenges abroad, including regulatory hurdles, local opposition, and difficulties in completing projects compared to their higher success rate in China.
Companies like CATL have built multiple plants worldwide and aim to make high-quality EV technology accessible globally, supporting sustainability goals. BYD is constructing factories in Hungary and Indonesia to strengthen its international footprint. Overall, China is reshaping the global EV supply chain to align with its industrial and geopolitical interests, positioning itself as a dominant force in the future of electric mobility.