Chinese EVs reclaim momentum as tech upgrades, incentives squeeze gains of foreign marques

International marques have failed to sustain the market share they regained in China early this year after consumers fell back in love with electric vehicles (EVs), a sector where domestic brands continue to enjoy an overwhelming advantage. Foreign carmakers from Volkswagen to Toyota held a combined 30.3 per cent share of the Chinese automotive market in April, with about 418,140 vehicles handed to local customers, according to data from the China Passenger Car Association (CPCA). In the first...