As U.S. and European officials raise concerns about China’s 'overcapacity' in green tech, new data tells a different story—especially in the electric vehicle (EV) sector. Let’s plug into the numbers! 🔌
China’s overall industrial capacity utilization hit 75.1% in 2023, per the National Bureau of Statistics. While below the global 'healthy' benchmark of ~80%, this marks an improvement from 2016 levels and reflects a quarterly upward trend 📈. Bloomberg notes Beijing isn’t sounding alarm bells, with economist Fan Lei stating it’s 'hard to believe China has serious structural overcapacity.'
Here’s the ⚡️electric twist: The Atlantic Council reveals that while sectors like cement and glass struggle with low utilization, EV makers are crushing it! Big players like BYD and Li Auto operate at over 80% capacity, as consumers ditch gas guzzlers for sleek EVs. 🏎️💨
Meanwhile, traditional automakers using internal combustion engines (ICEs) languish below 50% utilization. 'It’s a tech revolution, not a production glut,' analysts say. With EVs driving innovation and demand, China’s green machine shows no signs of slowing down.
