Rise of China’s EV Makers Threatens Western Auto Industry, UBS Says

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BYD, which also makes its own batteries and semiconductors, has a 15% cost advantage over Tesla’s Chinese-made base Model 3 sedan

(Bloomberg) — Western automakers are set to lose a fifth of their global market share due to the unstoppable rise of more-affordable, cheaper-to-produce Chinese electric vehicles, according to UBS Group AG analysts.

Led by BYD Co., Chinese carmakers will almost double their share of the auto market to 33% by the end of the decade, UBS analysts including Patrick Hummel and Paul Gong wrote in an Aug. 31 report.