China’s electric vehicle market is experiencing unprecedented competition with too many players chasing limited market share. This analysis examines the underlying factors and predicts the inevitable industry consolidation ahead.
A senior executive from China’s Goldwind has cautioned that Western nations could face significantly higher wind energy costs if they exclude Chinese manufacturers from their markets. According to reports, China maintains approximately 40% cost advantages in turbine manufacturing compared to Western competitors. Industry analysts suggest these cost differences could impact electricity prices as countries pursue decarbonization goals.
A top executive from one of China’s leading wind turbine manufacturers has warned that Western nations may confront substantially higher renewable energy costs if they restrict Chinese technology from their markets, according to reports from the Financial Times. Kai Wu, vice-president of Goldwind and head of its international division, stated that China‘s cost advantage in turbine manufacturing has grown to approximately 40% compared to Western competitors.
