China's EV makers rapidly gain market share in Europe, threatening jobs in auto industry

Chinese EV makers like BYD are rapidly gaining market share in Europe, threatening European automakers.

BYD already has 25% of Europe's EV market in 2022, up from 19.5% in 2021.

This could lead to job losses and economic decline in European auto hubs like Germany, similar to the U.S. Rust Belt.

China dominates EV battery production, putting Europe at a disadvantage.

The speed of China's auto industry growth echoes how South Korea disrupted Japan's export market in the 1980s and 90s.