Full throttle: Chinese EV makers to corner one-third of global market by 2030, UBS says

Group 1 - Chinese carmakers are projected to capture about one-third of the global auto market by 2030 and generate most of their profits overseas, indicating the resilience of China's electric vehicle (EV) advantage despite trade barriers in the West [1] - UBS's forecast for Chinese carmakers has remained unchanged over the past two years, even as these manufacturers accelerate factory construction in Europe while global competitors scale back electrification plans [1] - Overseas markets currently account for approximately 20% of industry sales and up to 50% of earnings for some Chinese carmakers, reflecting their increasing reliance on international expansion amid intensified domestic competition [3] Group 2 - The forecast does not imply that China will dominate the market alone; global competition is increasingly centered around a few large EV platforms, allowing space for emerging players like India [4] - Industry executives note that China's aggressive learning and adaptation will lead to a dominant market position, but they acknowledge the emergence of other players in the EV space [5] - Indian companies such as Tata Motors and Mahindra have rapidly increased their market share in the domestic market over the past five to six years, indicating a closing gap in competition [6]