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 a growth exceeding 13% in the hybrid car market in Europe. This situation indicates that brands like BYD, SAIC Motor, Chery, and Zhejiang Leapmotor Technology are reaping the benefits of their efforts to increase their presence in Europe.

New Export Strategies

Chinese manufacturers are aiming for growth in the European market while avoiding tight price competition in the domestic market by opening up excess capacity abroad. They aim to grow without being affected by new tariffs in EU countries and the UK market. According to data from Jato Dynamics, as of October, Leapmotor has seen 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 Peugeot, Fiat, and Opel's parent company Stellantis. Meanwhile, Chery's Omoda brand achieved a 1,100% increase in electric vehicle sales during the same period.

Local Manufacturers Face Tough Competition

As Chinese car manufacturers offer more electric models in the European market, local car manufacturers are also striving to respond to the increasing demand. In this process, European brands are conducting lobbying efforts to ease the phased exit rules from traditional fossil fuel vehicles.