Hyperdrive
Chinese EV Makers Hit EU Wall as Tariffs Add to Import Costs
- Share of Europe market drops to lowest since March last month
- New EU duties have had big impact on Chinese state-owned MG
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Chinese automakers captured their smallest share of Europe’s electric-vehicle market in eight months, after new tariffs added as much as 35% to the cost of importing cars to the region.
Manufacturers such as BYD Co. and SAIC Motor Corp.’s MG accounted for 7.4% of EV registrations across Europe in November, down from 8.2% in October, according to automotive researcher Dataforce. That’s the lowest level since March.