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

JPMorgan Chase said that Chinese automakers will account for 20% of the Western European market by 2028, up from the previous forecast of 10%-15% share 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 expected Chinese automakers could sell about 2.5 million passenger cars in Western Europe by 2028, up from about 1 million last year.

Investors are advised to pay attention to new energy vehicle companies with high overseas revenue or rapid growth, such as BYD, Geely and Xpeng.