European Automakers Step Up Investment in China to Record High

The rise of China's local electric vehicle manufacturers has put enormous pressure on foreign automakers' operations in China.

In order to gain more market share in the world's largest electric vehicle market, European companies' investment in China's auto industry hit a record high in 2022.

Direct investment by European companies in China's auto industry reached 6.2 billion euros last year, compared with a total of 1.5 billion euros in other industries, according to U.S. research group Rhodium.

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