Transportation
China’s Big EV Push Into Europe Fizzles Out on Tariffs, Slowdown
- Brands led by SAIC-owned MG saw market share declines in 2024
- BMW, Tesla have joined Chinese carmakers opposing EU tariffs
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Five years of rapid European growth for Chinese electric-car manufacturers ground to a halt in 2024, as trade barriers added to the challenge of building up sales in a stagnant market.
Brands led by SAIC Motor Corp.’s MG registered 3.5% fewer EVs in the region for all of 2024, according to data from automotive researcher Dataforce, marking their first annual drop since entering the market. In all, carmakers that also include BYD Co. and Xpeng Inc. captured about an 8.5% share.