China EV Firms Increase Overseas Investment Over Domestic Spending

Chinese companies that make electric vehicle (EV) parts are now investing more money in other countries than in China itself.

This is because there are too many EV part makers in China, so it's hard to make money.

Also, some countries make it expensive to sell EVs there.

Companies are building factories in other countries to avoid these problems.

Battery makers are investing the most.

However, it is often more expensive and takes longer to build these factories overseas, and sometimes projects get cancelled.

It’s a big change for the EV industry.