ALBAWABA - Chinese automakers have been making waves in the global market with the rise of brands such as Geely, BYD, and Great Wall Motors, highlighting the capabilities of Chinese manufacturers.
With the explosive growth of the global automotive market and the rise of Chinese car companies, it's no surprise that some of these companies could soon dominate the world auto market.
These companies are innovating and providing consumers with vehicles that are reliable, efficient, and stylish.
What’s more, Chinese manufacturers have become more competitive in terms of pricing, making their cars much more accessible to the average consumer.
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Chinese automakers are quickly catching up, and with China now having the world's largest car market, they will only get better. Without any further ado, here are the 8 biggest Chinese Car companies that are poised to dominate the world’s auto market.
Chinese cars that may dominate world auto market in 2023
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Geely
Large Chinese automaker Geely entered the market in 1997. In 2009, it acquired Swedish automaker Volvo, and in 2017, it acquired Lotus, a British sports car manufacturer.
More than 1.8 million vehicles were sold by the group in 2018, which also includes Geely Auto, Lotus, Lynk & Co, Proton, and Volvo.
Geely made its mark, with the purchase of Volvo in 2010 paving the way for Chinese car manufacturers to compete with the world's biggest automakers.
- BYD, or Build Your Dreams, Auto
BYD is making waves with its electric vehicles and innovation in battery technology. The Chinese manufacturer BYD Auto was established in 2003 and makes a variety of vehicles, including cars, trucks, buses, and electric bikes.
BYD declared it would begin to grow its clientele in Europe in 2022. Norway is the first country to sell the EV Tang SUV and a number of commercial vehicles.
- Li Auto
Two SUVs are available from Chinese EV manufacturer Li Auto (LI): the Li ONE and the Li L9. In November 2019, the business began mass-producing cars. It delivered 86,927 vehicles in the first three quarters of 2022. During that period, company revenues reached $4.11 billion.
Li Auto operated 276 retail stores in 119 cities as of Nov. 30, 2022. In addition, 317 servicing centers and Li Auto-approved body and paint shops were active in 226 cities.
Changzhou is home to a manufacturing facility run by Li Auto. In Beijing, a second plant is being constructed.
- NIO
Six different vehicles are available from the Chinese EV manufacturer, including two sedans, such as the ET7 and ET5 and four SUVs, namely ES7, EC6, ES8 and ES6.
Its initial automobile was the ES8. In 2018, NIO started shipping its first units. NIO produced $4.93 billion in revenue during the first three quarters of 2022 while delivering 82,434 vehicles in total.
According to the company's most recent projections, it expects to deliver between 38,500 and 39,500 vehicles in the fourth quarter of 2022.
State-owned automaker Jianghuai Automobile Group primarily handles the company's manufacturing operations.
According to the company's most recent agreement with JAC and another manufacturing partner, Jianglai Advanced Manufacturing Technology, it is possible to produce up to 240,000 units annually.
The Hefei Economic and Technological Development Area (HETA) in China houses NIO's main manufacturing facility. The CEO of the company is William Li. Nio had 15,204 full-time employees by the end of 2021, the majority of whom were based in China.
- Great Wall Motors
Great Wall Motors is also expanding rapidly, launching an ambitious plan to become the world's top-selling company. Great Wall, which was founded in 1984, achieved a sale of more than one million units in 2016.
Great Wall, the biggest manufacturer of SUVs and pickup trucks in China, runs a number of assembly plants in a variety of underdeveloped nations all over the world.
- SAIC Motor
The Chinese government owns SAIC Motor Co. (short for Shanghai Automotive Industry Corporation), although this is not unusual in China. One of the "Big Four" state-owned automakers is SAIC (the others being FAW Group, Dongfeng Motor Corp., and Changan Automobile).
With more than 4.5 million vehicles rolling off their assembly lines in 2014, SAIC produced more cars than any other Chinese automaker—many of them commercial vans. Another peculiarity of SAIC is that it was founded in the 1940s, which is a long time for a Chinese business. Along with Roewe, SAIC also owns the venerable MG brand of British automobiles.
- Changan Automobile
Changan Automobile, another government-owned automaker in China, makes a variety of passenger cars, light trucks, and microvans. It is noteworthy that Changan also has joint ventures with Ford and Mazda.
One of China's "Big Four" and the fourth-largest automaker in the country. In 2016, Changan produced about 3 million vehicles and is home to the second-most well-known automaker in China.
