Chinese EV makers tipped to storm world’s top 10 carmakers by 2030, McKinsey forecasts
Chinese carmakers are expected to climb the global league tables over the next five years, as technology and scale disrupt the leaders
Up to five Chinese vehicle assemblers, leveraging their technology and production advantages in building electric cars, are likely to make the list of the world’s top 10 carmakers by 2030, disrupting the pecking order in the global automotive industry, according to global consultancy McKinsey.
“The industry will undergo some major changes by 2030,” Guan Mingyu, a senior partner of McKinsey, told reporters in a media briefing on Thursday. “Indeed, we have already seen some signs that tremendous changes are taking shape.”
Guan did not specify which Chinese carmakers would become the three newcomers to crack the global top 10 rankings.
State-owned vehicle manufacturers SAIC, FAW and Changan trailed BYD and Geely in terms of deliveries last year.