American automakers will need to make major changes to their businesses if they want to remain competitive with Chinese electric vehicles (EVs) poised to flood the global market, according to analysis published by auto industry consultants.
U.S. manufacturers currently do tens of billions of dollars of business abroad, but Chinese competitors are poised to take over approximately one-third of the global market share by 2030 with particularly strong growth in Europe, South America and Asia driven by EVs and plug-in hybrids, AlixPartners projects in its report.
Read the full story