Chinese automakers BYD, Chery, and Great Wall Motor are gearing up to launch about 20 electric vehicle models in Europe over the next five years, posing a significant challenge to European automakers on their home ground.
China's cost advantages in the auto industry stem from government subsidies and dominance in battery-minerals refining, enabling Chinese electric vehicle brands like BYD to offer EVs priced between $10,000 to $30,000, sparking concerns in the US and Europe.
In response to the Chinese threat, the US under President Joe Biden quadrupled tariffs on Chinese EVs to 100%, while the EU is considering raising tariffs amid investigations into Chinese subsidies, reminiscent of Japanese automakers' strategies in the past.
Chinese automakers are focusing on improving safety ratings, repair services, distribution networks, and resale values to enhance their appeal to European customers and establish a stronger presence in the market.
[
add
]
[
|
|
...
]