China’s Made-in-Europe EVs Pose New Threat to Region’s Carmakers
Factories from Spain to Turkey are poised to churn out vehicles for Chinese companies, which hope to avoid huge new import tariffs.
Geely’s Zeekr electric vehicles bound for shipment to Europe at the Port of Taicang in China in 2023. The firm is looking to shift some production to European factories.
Source: Bloomberg
China’s electric carmakers are expanding in Europe to blunt the impact of tariffs meant to weaken their price advantage over the region’s ailing legacy manufacturers.
With the European Union hiking duties on Chinese electric vehicles to as much as 48%, China’s new generation of green car manufacturers is teaming up with local industry so their cars are considered homegrown. Without these measures, Chinese EVs could become thousands of euros more expensive for consumers, or else unprofitable.