The chapter analyses the transformation of global car markets since the 2000s, focusing on the growing dominance of emerging markets and the shift towards electric and connected vehicles. The problem addressed is the potential for emerging countries, particularly China and India, to challenge the traditional dominance of Western Original Equipment Manufacturers (OEMs). Key research questions include how these market shifts are influencing the global automotive landscape and whether emerging countries can take the lead in electric vehicle (EV) production and innovation. The study also explores the interplay between market geography, technology transitions, and the strategies of OEMs. The major findings indicate that emerging markets, especially China, have seen rapid growth in car demand, outpacing traditional markets like the US, Europe, and Japan. Furthermore, China’s proactive policies, particularly in the electric vehicle sector, have given its domestic OEMs a significant advantage, especially in producing affordable Battery Electric Vehicles (BEVs). Western OEMs, constrained by high costs and legacy strategies, are struggling to produce competitively priced EVs. The study concludes that emerging markets, supported by state policies, are becoming key players in the global automotive industry.