Chinese Electric Vehicles Are Breaking Records in the European Market!

The Rise of Chinese Electric Cars

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

New Export Strategies

Chinese manufacturers are avoiding the ongoing tight price competition in the domestic market by looking to the European market to open up excess capacity. They aim to grow without being affected by new tariffs in EU countries and the UK. According to data from Jato Dynamics, as of October, Leapmotor's electric vehicle sales in Europe showed a remarkable increase of 4,000%.

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 achieved a 1,100% increase in electric vehicle sales during the same period.

Local Manufacturers Face Tough Competition

While Chinese car manufacturers are offering more electric models in the European market, local car manufacturers are also striving to meet the increasing demand. In this process, European brands are conducting lobbying efforts to relax the gradual exit rules from traditional fossil fuel vehicles.