Li Auto, BYD and Nio, on Fortune/BCG’s Asia Future 30, poised for future growth

China is the world’s largest EV market—and the most competitive. Sales of “new energy vehicles,” which includes both hybrids and battery EVs, expanded by 38% last year to reach 9.49 million units, according to data from the China Association of Automobile Manufacturers. If the global market for EVs was 13.6 million last year, as research firm Rho Motion estimates, then China is…