China's electric vehicle industry is developing rapidly. Among them, lithium battery-related fields have also received attention. The electric vehicle industry may become the next leader to promote China's economic growth.

According to the data, Tesla, the US EV manufacturer, had the largest market share of electric vehicles in 2022, reaching 18.9%, while the total of the top three EV manufacturers in China will get 27.7%.

In addition, Chinese companies occupy four of the top five positions in the lithium battery insulator market, with a total market share of 63%.

In terms of financing, China's EV-related start-ups attracted US$15.2 billion in venture capital in 2022, a new high. Growth in exports of cars and batteries also helps ease China's sluggish consumer economy.