JP Morgan Chase: Chinese car companies are expected to occupy 20% of the Western European market by 2028

JP Morgan Chase said that Chinese automakers will account for 20% of the Western European market by 2028, an increase from the previous forecast of occupying 10%-15% of the market by 2030. "The story of China's auto exports is structural and will increasingly dominate discussions among global investors," JPMorgan analysts said.

They said they expect Chinese automakers could sell about 2.5 million passenger cars in Western Europe by 2028, up from about 1 million last year.

It is recommended that investors pay attention to new energy vehicle companies with high overseas revenue or rapid growth, such as BYD, Geely and Xpeng.