How Supply Chain Disruptions Are Impacting China's EV Market

In 2022, China dominated the global EV market, accounting for nearly 60% of all global EV sales. However, with the recent spike in COVID-19 cases, we are seeing an increase in disruptions to production that are plaguing the country. Leading automaker, Tesla, has halted production which will reduce vehicle output by 30%. Additionally, the China Evergrande New Energy Vehicle Group has also suspended production due to a lack of new orders. Moreover, with key commodities essential for EV batteries facing shortages coupled with price spikes, will China continue to lead the global EV market?