Chinese Electric Vehicles Break Records in the European Market!

The Rise of Chinese Electric Vehicles

Pioneer automotive data provider Dataforce reveals that as of 2023, Chinese brands have recorded a growth exceeding 13% in the hybrid car market in Europe. This indicates that the efforts of brands such as BYD, SAIC Motor, Chery, and Zhejiang Leapmotor Technology to increase their presence in Europe are paying off.

New Export Strategies

Chinese manufacturers, while avoiding the ongoing intense price competition in the domestic market, have turned to the European market by opening up excess capacity. They aim to grow without being affected by new tariffs in EU countries and the UK markets. According to Jato Dynamics data, as of October, Leapmotor has shown a remarkable 4,000% increase in electric vehicle sales in Europe.

New Successes Through Joint Ventures

This growth has been supported by a joint venture with Stellantis, the parent company of Peugeot, Fiat, and Opel. Meanwhile, Chery's Omoda brand has achieved a 1,100% increase in electric vehicle sales during the same period.

Domestic Manufacturers Face Tough Competition

As Chinese car manufacturers offer more electric models in the European market, domestic car producers are also striving to meet the increasing demand. During this process, European brands are conducting lobbying efforts to ease the gradual exit rules from traditional fossil fuel vehicles.