In Depth: As China Sales Slump, Global Carmakers Tap Local Ventures for EV Catch-Up

The increasing popularity of homegrown new energy vehicle (NEV) brands among Chinese consumers has foreign auto giants sweating. As they try to rev up stalling sales in China amid a broader economic decline, some are trying an unorthodox strategy: tapping their local joint venture (JV) partners for NEV research and development.

International carmakers were traditionally forced to enter into JVs with local state-owned car brands in order to access the mainland market, under rules that were finally lifted in 2022.