China is poised to win the global revolution in electric vehicles (EV), as it leads across the value chain from critical mineral inputs to battery production to vehicle manufacturing and even increasingly to EV brands, consultancy Horizon Advisory said in a June report. 

The report noted that China has developed advantages of the global supply of critical mineral inputs – notably graphite, cobalt and lithium – which are used for making EV batteries. For example, about 33 percent of graphite consumed by U.S. firms was imported from China. 

Based on critical material dominance, Chinese companies have developed a leading role in global EV battery production, the report said. China's CATL claimed a global market share of 28 percent in 2019, while BYD and Envision AESC took 9 and 3 percent respectively. 

The country also has an advantage in market demand, the report said. Chinese manufacturers account for over 50 percent of global EV production. Its total national EVs reached 3.81 million by the end of 2019, making it the world's largest EV market.  

As a result, the world's major auto companies have increased investment in China. Take for example, General Motors planned to "continue to invest in China at a rate of $1 billion per year," according to the report. 

Tesla's CEO Elon Musk said in March that China will become the largest market for the electric carmaker. "China, I think in the long term, will be our biggest market. Both where we make the most number of vehicles and where we have the most number [of] customers." 

The report also said that China is competing for global EV brands. Of the Top 12 global EV automakers by fundraising, seven are Chinese – Nio, WM Motor, Xpeng Motors, BAIC BJEV, Youxia Motors, Li Auto and Byton.