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

(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.