Tech
Who Is Winning The Global EV Race?
The global electric vehicle market is heating up and China wants to dominate. The country has invested at least $60 billion to support the EV industry, and it’s pushing an ambitious plan to transition to all electric or hybrid cars by 2035.
Tesla entered the Chinese market in 2019 and has seen rapid growth. In the U.S., Tesla dominates the conversation around electric vehicles, but in Europe, it’s a different story. Germany-based Volkswagen Group has risen from the ashes of its 2015 emissions scandal to become the EV market leader in Europe, where it has an edge thanks to local manufacturing, brand familiarity, and cheaper price points. But whether Volkswagen can broaden its appeal to become the global EV leader remains to be seen.
Meanwhile, electric vehicle infrastructure in the U.S. grows at a rapid pace. San Francisco-based Ample has brought electric vehicle battery swapping to America. The company was in stealth mode for seven years before launching recently with five swapping stations in the Bay Area. The concept isn’t new.
A start-up called Better Place launched an EV and battery swapping company after it raised $850 million in venture funding, but it ultimately went bankrupt in 2013. Tesla also demoed battery swapping in 2013 but only opened one station for about a year. Elon Musk said Tesla owners were not interested in it. Battery swapping is already common in China. Electric vehicle maker Nio, for example, plans to double its network of swapping stations to 500 this year and plans to open stations in Norway as part of its expansion into Europe.
SEGMENTS:
00:00 Why China Is Beating The U.S. In Electric Vehicles
17:46 Why Volkswagen Is Beating Tesla In Europe
31:44 Can EV Battery Swapping Take Off In The U.S.?
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Who Is Winning The Global EV Race?
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Chinese automakers have made over $100 billion in EV and battery investments abroad since 2019, according to Atlas Public Policy, far outpacing US firms. CNBC’s Robert Ferris has more on how the Asian country got here and why.
Chapter 1: What is happening – 01:18
Chapter 2: Why this matters – 03:05
Chapter 3: The future – 06:00
CREDITS:
Produced by: Robert Ferris
Shot and edited by:
Additional Editing: Darren Geeter
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images, AP
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How China came to dominate the global EV factory boom
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Cisco buys tech startup AppDynamics one day before its IPO. Here’s what to expect next.
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Cisco Buys AppDynamics One Day Before Its IPO | Tech Bet | CNBC
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The AI race is shifting from who has the biggest model to who can run, control and deploy AI most effectively.
Perplexity CEO Aravind Srinivas joins to discuss the company’s new orchestrator model, why he’s building on open-source Chinese AI, and his argument that “token value per watt” may decide the next phase of competition.
Then, Benchmark general partner Peter Fenton and Ollama CEO Jeff Morgan discuss the rise of open models, why enterprises are increasingly running models they can download and control, and what Ollama’s growth says about where the AI ecosystem is heading.
Together, the conversations get at one big question: in AI’s next race, will the winners be defined less by model access and more by cost, control and compute?
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AI’s Next Race: Cost, Control, and Compute
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Federal Reserve Chairman Kevin Warsh is floating major revisions to the central bank’s approach to assets, productivity, data, inflation and public communications. To achieve this, Warsh has created 5 “task forces” while soliciting interest from individuals outside of the Fed. This presents an opportunity for a small unelected group to influence the broader U.S. economy and value of U.S. dollars circulating globally. CNBC’s Matt Peterson reports.
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Reporter: Matt Peterson
Produced and Edited by: Carlos Waters
Camera by: Charlotte Morabito
Animation: Jason Reginato
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images
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Members of Congress are debating the future of AI regulation at a pivotal moment for the technology. In an effort to influence the next class of lawmakers, dueling super PACs backed by AI giants like OpenAI and Anthropic are pouring millions of dollars into the midterm elections. CNBC’s Emily Wilkins breaks it down.
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Karen James Sloan
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Andrea Miller, Darren Geeter
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@Dim.X
December 20, 2023 at 10:09 pm
Fact: China always exaggerates on everything to make it bigger than it is. Just think of anything you bought directly from a Chinese store. It’s a culture to fake anything that can be faked.
@user-te6xy7sf6o
December 20, 2023 at 10:09 pm
Fake news.
@nevco8774
December 20, 2023 at 10:09 pm
I wish un update at the end of 2023 when the USA has a slowdown in EV adoption, Europe, UK keep strong, China overheated and its economy started to slow down minus the sensationalism.
@1313hyme
December 20, 2023 at 10:09 pm
US GM is stealing LG's battery 😂😂
@jameswalsh8837
December 20, 2023 at 10:09 pm
Well that didn't date too well did it? Nearing the end of 2023 Tesla has wiped the floor with VW and is increasing its lead.
@rickagfoster
December 20, 2023 at 10:09 pm
In America if the govt pushes EVs no one will appreciate them. It’s the American way, “don’t tell me what duh do!!” Sad.
@IgnaciaMilliron-oh8hw
December 20, 2023 at 10:09 pm
I wouldn't trust China on anything, electric car's easy to keep track of people and control you, they explod, China is not beating anyone on EV's.. This is fake news..😈
@sweatho1229
December 20, 2023 at 10:09 pm
India..is winning the Evs race. We are making mobile phones now…very big technology.hahahaha..
@fsm12385
December 20, 2023 at 10:09 pm
So basically Force !
@fsm12385
December 20, 2023 at 10:09 pm
Love ya Elon But EVs not gonna lead but exist with combustible all electric rediculous!
@car24dude
December 20, 2023 at 10:09 pm
The US needs more charging stations
@octaviomoreno6263
December 20, 2023 at 10:09 pm
amble is not happening
@octaviomoreno6263
December 20, 2023 at 10:09 pm
TESLA must win
@octaviomoreno6263
December 20, 2023 at 10:09 pm
tesla
@HousewerkRecords
December 20, 2023 at 10:09 pm
Europe and the US will catch up. No one wants to buy Chinese EV’s. I know I don’t. China may have the materials but other technologies will come out. China needs the world to sell materials to otherwise it will affect their ability to trade in those markets.
@GurpreetSingh-fw8wh
December 20, 2023 at 10:09 pm
Ou la la
@johnjohnston2740
December 20, 2023 at 10:09 pm
Old news
@brucel.2919
December 20, 2023 at 10:09 pm
I like charging better than swapping ! it wouldn't damage the battery or the life span at all,
@rw9207
December 20, 2023 at 10:09 pm
I love that car manufacturers don't get that TESLA aren't "car makers"… They say they're "gunning for Tesla".. by which time Tesla will have moved on to robotics, leaving the car industry changed forever. Tesla is simply a tool for pushing tech development forward. Just as Space X is.
…While they are focused on money/profit, Elon is focused on other things.
@guntherfischbach2568
December 20, 2023 at 10:09 pm
Mary has been smoking the fantasy weed again. ROFLMAO
@davidsmith5584
December 20, 2023 at 10:09 pm
95 out of every 100 cars sold are ICE.
@parklilys3108
December 20, 2023 at 10:09 pm
No problems the US always wins. If the US could not compete to win the race, the US administrations will impose bans or sanctions to help its companies to win under names of national security.
@ThriveChen
December 20, 2023 at 10:09 pm
After one year, obviously, China. Not only they “want”, they do!
@sajanbabu8101
December 20, 2023 at 10:09 pm
Must be China 💪💪
@Bravo-ry9st
December 20, 2023 at 10:09 pm
This aged like milk !😂
@mcopanzan
December 20, 2023 at 10:09 pm
VW has history there and brand name?
…yes they sure do, bad history, overpriced cars, greedy executives, and Diesel gate scandal. I used to own a Golf in the 90's and it was a great car then, but now it's just average at best.
And after the Diesel gate fiasco, I had them buy back my Audi A3 diesel, and will never go back to the VW group.
Recently i have been test driving a lot of EVs and there are big differences between them, The new MG is good , but it's another can of warms, same goes for VW & other german brands that are mostly chinese based and some slapped together here to get around tarifs. Software is poor, quality of materials in VW droped over last 3 years to cheep at best, and prices went up to ridiculous levels.
Will look at only the EVs manufactured and assembled localy even if i have to overpay, unfortunately a lot of people are not as fortunate as myself, and will go for these cheep chinese EVs just because they are forced by their economics.
I'm just going to keep my Ice cars a couple of years longer and wait for proper local EVs, for one i will not be giving my money to the CCP or the fat cats in germany.
But biggest problem to Evs right now is the poor quality of public charging infrastructure, especially on medium and long trips, that needs to be addressed for people to be comfortoble buying EVs in mass.
@eleetgroupvideo
December 20, 2023 at 10:09 pm
I wouldnt trust CNBC knowing about EV market go and watch for example the Electric Viking
@ubermenschen3636
December 20, 2023 at 10:09 pm
CNBC is a US corporate media propaganda machine. One day it reported China stole and copied all advance technology from USA. Next day, it reports China is a leader in EV technology surpassing USA’s. Basically, CNBC has the Americans coming and going — “there’s a suckers born everyday and we gotta take him for all he’s got. “
@bingosunnoon9341
December 20, 2023 at 10:09 pm
2050? The human race will be but a memory by then. Global warming and its effect, climate change, will see to it.
@SPDATA1
December 20, 2023 at 10:09 pm
EV will soon be HISTORY…..mark my words.
Toys fo the boy's….
@TheCaminoGuide
December 20, 2023 at 10:09 pm
I'm sure China is looking at the car market and realizing that building ICE cars is challenging because of the 100 year old legacy auto stronghold, in partnership with the UAW and Democrat party. That makes it difficult to dominate in the West. But EV's being new technology and with Tesla already breaking down the most challenging barriers having to do with charging/range anxiety and being able to manufacture them at a profit…China sees it's chance to be a new leader of the auto industry. This is like 2008 in the phone industry. You had several companies that dominated the space, and suddenly you had the iPhone, which completely displaced the former industry leaders.
@oswynjames8308
December 20, 2023 at 10:09 pm
If you waiting for China they will give you more of their burning junk. EVs are not the future that everyone is touting].
@masterstacker2833
December 20, 2023 at 10:09 pm
The world's greatest scam.
@JayTalksinjury
December 20, 2023 at 10:09 pm
Ample is missing 2 very important once they figure out manufacturers won't adopt this . As they figure it out give me a job an I will make your expansion easy
@ozmalo
December 20, 2023 at 10:09 pm
DUMP ALL EVs
@touavang8066
December 20, 2023 at 10:09 pm
Nio swap batteries now everyone swap batteries great idea for electric car future
@peterliu9091
December 20, 2023 at 10:09 pm
Hey, EV sales is slowing down a lot in US. Charging time and lack of public charging stations are the two key issue that people hesitate to move to full EV! Plug in EV could solve this problem and is picking up the market demand.
@ajf5823
December 20, 2023 at 10:09 pm
In the US many states are penalizing and charging the buyers of EV cars because they don’t use gasoline!
Not to mention that distances are much greater in this country and remote locations don’t have the infrastructure to support EV vehicles.
Plus, there is any free elections in China. Their officials can enact discriminatory policies to favor EV drivers and outlaw ICE vehicles.
When the US government gives money to people like me who can’t AFFORD to buy and maintain a new EV l may very well consider giving up my paid for and dependable 18 year old Jeep.
@PaulAxe
December 20, 2023 at 10:09 pm
Earth is winning.
@asdfghjklmnop850
December 20, 2023 at 10:09 pm
It hurts for me to say this, but China already won in the EV Race, stop pretending they didn't. In Australia, Philippines, UK, Cambodia, and Poland, even ICE cars are getting their fair share of market. To be fair the quality is getting better, still won't buy because of values.
@ductape3107
December 20, 2023 at 10:09 pm
My model 3 is the bet car I have ever had
@hotchihuahua1546
December 20, 2023 at 10:09 pm
What a difference a year makes !
Do a report today and this report will be turned on its head !
@bm8641
December 20, 2023 at 10:09 pm
China doesn't have oil. Is only natural to go for EVs
@1bluensx
December 20, 2023 at 10:09 pm
Tesla. Period
@daviddunn860
December 20, 2023 at 10:09 pm
Now you morons know why evies are being mandated politicians hsve sold you out to China even the big guy is in on the take.
@sih9696
December 20, 2023 at 10:09 pm
China does know to introduce flashy-looking EVs, but I truly have concerns with the durability and quality of service of China-produced EVs.
@Dan.50
December 20, 2023 at 10:09 pm
MSM has pushed this scam for decades and should be held legally and financially accountable for it.
@arunsubramanian7949
December 20, 2023 at 10:09 pm
We like tesla cuz of the fun driving experience, pricing, no haggle no hassle experience purchase and using it.