Chinese EV supply chain companies invested $16 billion overseas in 2024, surpassing the $15 billion invested domestically for the first time, according to Rhodium Group. Three-quarters of overseas spending came from battery manufacturers facing overcapacity and profit pressure domestically, plus rising tariffs in Europe and the U.S. CATL, Gotion High-Tech, and BYD are accelerating global expansion to supply Tesla and BMW. BYD operates plants in Brazil and Thailand with projects announced in Turkey and Indonesia, while Chery plans a $1 billion Turkish EV factory. However, only 25% of announced overseas EV projects have been completed versus 45% in China. BYD shelved Mexico plant plans last month due to geopolitical uncertainty under President Trump. Despite challenges, analysts call it a “historic shift” as Chinese firms seek higher returns abroad.