Chinese EV makers face shipping shortage

News Snapshot:

You may remember the chip shortage that afflicted the automotive industry. Now, Chinese electric vehicle makers are facing a ship shortage. With Chinese EV exports surging, China’s auto makers are scrambling to find enough shipping capacity to get their vehicles to overseas markets. Meanwhile, the cost of shipping cars has soared to an all-time high, according to shipping services provider and consultancy Clarksons. Advertisement China is already investing heavily in car shipping, viewing that supply chain segment as critical to the global expansion of the Chinese automotive industry. But with shipbuilders facing years-long backlogs on orders, Chinese EV majors are...