Nine of the top 10 electric vehicle companies in China, the world’s largest EV market, are Chinese, according to analysis by Boston Consulting Group. This ranking is the polar opposite of the traditional internal combustion engine car market, where nine of the top 10 are global brands (in joint ventures with Chinese partners).
What is it that explains the sudden turn in fortune of these Chinese automakers in such a short period, in an industry that is more than a century old?
