Hyperdrive
An Electric SUV Will Lead China’s Charge Into Europe
- Shanghai’s Aiways says it has secured required certifications
- Upstart likely to face uphill battle to break into market
This article is for subscribers only.
A roughly $39,000 sport utility vehicle looks set to become the first Chinese entrant in Europe’s electric-car market, betting its competitive price will help draw customers away from the likes of Volkswagen AG and Tesla Inc.
Shanghai-based automaker Aiways has secured the required permits and certifications for a Europe launch, and plans to start sales in the second quarter of next year, co-founder Fu Qiang said in an interview. The upstart will first start selling the vehicle, called U5, in China this month.