Chinese electric vehicle manufacturers, particularly CATL and BYD, have established a dominant position in the market by utilizing the vast domestic demand. This demand not only enables them to achieve economies of scale but also provides valuable insights into reducing production costs. Consequently, the advancements made by these companies are making it increasingly difficult for competitors worldwide to catch up, reinforcing China's lead in strategic sectors such as batteries and EVs.
Chinese manufacturers like CATL and BYD are so far ahead in the electric vehicle sector that they are becoming nearly impossible to challenge internationally.
The significant cost advantage held by Chinese companies arises from leveraging domestic demand, allowing deeper understanding and optimization of production processes over time.
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