Chinese Electric Vehicles Are Breaking Records in the European Market!

The Rise of Chinese Electric Vehicles

Pioneering automotive data provider Dataforce reveals that as of 2023, Chinese brands have achieved over 13% growth in the hybrid vehicle market in Europe. This demonstrates that efforts by 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 are seeking to avoid the intense price competition in the domestic market by opening excess capacity to the European market. They aim to grow in EU countries and the UK without being affected by new tariffs. According to Jato Dynamics, as of October, sales of Leapmotor in Europe showed a remarkable increase of 4,000% in electric vehicle sales.

New Successes with 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 an increase of 1,100% in electric vehicle sales during the same period.

Local Manufacturers Face Tough Competition

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