China EV Sector Invests More Abroad Than at Home for First Time

Chinese companies involved in the electric vehicle industry invested more overseas than domestically for the first time in 2024, although foreign projects face higher costs, delays and risks.

Firms along the supply chain invested around $16 billion overseas last year — mostly in battery production, and just ahead of the $15 billion spent at home, according to a report by research company Rhodium Group released Monday. The figures represent an “historic shift” after years of directing around 80% of investment domestically, Rhodium said in the report.