Multinational firms like BASF and BMW increase investments in China’s rapidly growing new energy vehicle market.

Multinational companies are boosting investments in China to tap into the booming new energy vehicle (NEV) market. BASF and BMW are among those investing in R&D, production, and supply chains, attracted by China's supportive policies like purchase subsidies and charging infrastructure. China's NEV sales and production surged over 50% year-on-year in the first quarter of 2025, exceeding 3 million units.