It is more than likely that, wherever you look, see chinese technology. Maybe it’s your cell phone, your tablet or your television. You may be surprised that your Japanese or American microwave is actually manufactured by a Chinese company. Or your refrigerator, air conditioning, whatever. China has conquered the world of technology and that, at this point, does not surprise anyone.
It will also not be surprising that the Asian giant wants to get into the kitchen (literally) and, in the case at hand, even our garage. Because yes, China has been promoting a plan since 2015 to lead several key technological industries (which is what it means to be the largest producer of batteries in the world) and one of those industries is the car. And we are already starting to see it.
From the mobile phone to the washing machine and the car
China understood very quickly that the future of cars was not in combustion, a market largely led by a well-established European industry. but in electricity. China took a shortcut. The state subsidized every stage of the chain, from mines and loading docks to battery factories and start-ups. We have the clearest example in BYD, which went from manufacturing mobile batteries to being the spearhead of the Chinese electric car.
The Chinese market, however, is very saturated. Despite its huge population, there are 150 car brands in the country, so competition is fierce. Thus, China began to look outwards. And it went very well. In 2023, China will overtake Japan as the world’s leading car exporter and the next logical stop was Europe.
The Chinese proposal was simple: offer technology, design and autonomy at a much lower Price than local and Western proposals. Spain was the gateway with companies such as BYD, OMODA, JAECOO, XPENG and MG filling dealerships, something that translates into a considerable drop in average prices of 12%. In just a few years, the market share of these brands has skyrocketed from 2% to 7%, a figure that rises to 14% if we take plug-in hybrids into account.
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And how is that possible? Because China has something that Europe does not have: total control of the production chain. They extract, produce, manufacture and assemble. They can also access affordable financing, free land and subsidiary energy. Companies compete under exceptional conditions with each other, encouraging price cutting and innovation.
Not even tariffs can stop China’s advance. China, in fact, has not wavered when it comes to opening factories on our continent to manufacture from within and, in the process, sow the seeds of a more or less silent conquest. This is just a preview of a much longer report that you can see in the video above.
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