Overview
- At Detroit 2026, Ford and General Motors disclosed EV-related write-downs of about $19.5 billion and $6.0 billion, signaling a broader U.S. pullback.
- Global EV registrations rose roughly 20% in 2025 to about 20.7 million, with China reaching around 12.9 million as U.S. growth stalled and EVs stayed under 10% of U.S. sales.
- China exported about 2.65 million EVs in 2025 and BYD surpassed Tesla to become the largest electric-vehicle maker.
- In Mexico, Chinese-built vehicles now represent roughly 20% of new-car sales, with BYD accounting for about 70% of the plug-in segment.
- Despite tariffs up to 50% effective January 1, Chinese brands are absorbing much of the cost—estimated near $850 per vehicle—and offering financing near 7.9% as public charging expansion lags demand.