European investment in China’s car sector has hit a record high as companies try to claw back market share from ascendant Chinese electric-vehicle makers.
Direct European investment in China’s automotive sector reached €6.2bn last year, while investment in all other sectors totalled €1.5bn, according to data from Rhodium, a US research group.
That marks a stark change from 2018, when the car industry total was €1.7bn, compared with €5.5bn in other sectors. Last year’s jump also reflected in part BMW raising its stake in its Chinese joint venture.
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