Chinese and European automakers forge closer ties, deepen cooperation

Chinese electric cars on display at the Beijing Auto Show, May 3, 2024. /CFP

In recent years, China's auto market has accelerated its shift towards new energy vehicles (NEVs), prompting significant investment and expanded production from European automakers.

In April 2024, BMW announced an additional investment of 20 billion yuan (about $2.8 billion) in its production base in Shenyang, northe