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In 2021, the Chinese auto industry hit several milestones, with several companies achieving notable successes. Here are some of the key developments:
Electric vehicle sales surge: China has become the world's largest market for electric vehicles, with sales surging 128% in 2019 to reach 1 million units. This is due to the government's supportive policies and the increasing demand for environmentallyfriendly vehicles.
Chinese car brands gain global recognition: Chinese car brands such as Geely, Great Wall Motors, and BYD are gaining global recognition and expanding their presence in international markets. Geely's Volvo Cars division has been acquired by Geely, while BYD has been expanding its operations in Europe and other regions.
Autonomous driving technology advances: Chinese tech companies such as Baidu, Alibaba, and Tencent are investing heavily in autonomous driving technology, and several Chinese car companies have been testing selfdriving cars on public roads.
Electric vehicle battery production booms: China is the world's leading producer of electric vehicle batteries, with companies such as BYD and CATL leading the way in battery technology.
Innovation in vehicle design and technology: Chinese car companies are investing in new technologies and designs, such as incar virtual reality systems, and are exploring new materials for vehicle production.
Overall, the Chinese auto market is showing significant growth and innovation, with the government's push for electric vehicles and autonomous driving technology playing a key role.
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