One in four electric cars sold in Europe this year could have been produced in China, according to a study. Last year the value was almost a fifth (19.5 percent) in Europe and 15 percent in Germany, the Transport & Environment (T&E) organization announced in Berlin on Wednesday. So far, most imports have been cars produced in China by EU or US manufacturers. But Chinese brands are also catching up.
According to the information, more than half of the electric vehicles shipped to Europe in 2023 were built by “Western car manufacturers”. Tesla alone imported 28 percent, another 20 percent from the Romanian car manufacturer Dacia, which belongs to Renault. T&E assumes that Chinese brands will continue to enter the market in the coming years.
BYD & Co. are quickly catching up
This year, T&E already expects an eleven percent share in Chinese car manufacturers. In 2027, this share could rise further to 20 percent. Between 2019 and 2023, the value increased significantly from 0.4 to 7.9 percent. The Chinese manufacturer BYD alone is aiming for a five percent share next year.
Tariffs don’t protect forever
An increase in tariffs within the European Union could lead car manufacturers to move or expand production to Europe, explains Sebastian Bock, director of T&E-Germany. “But tariffs will not protect established European carmakers forever. Chinese companies will build factories in Europe,” he said.
It is therefore crucial to increase production in Europe with the help of a “regulatory push”. That is why there must be targets for the electrification of company cars and 100 percent emission-free cars from 2035.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
