China's electric vehicle (EV) makers, which have raced past foreign rivals to top sales rankings at home, are arriving in Europe – and facing a new set of challenges.
But they are also fighting back with their own raft of EV launches and plans to slash manufacturing costs and prices, so the Chinese newcomers will have to be at the top of their game.
The ace in their pack is price. The average price of an EV in China was less than 32,000 euros in the first half of 2022 compared with around 56,000 euros in Europe, according to researchers at Jato Dynamics.Logistics, sales taxes, import duty and meeting European certification requirements all add costs, said Spiros Fotinos, Europe CEO for Chinese brand Zeekr, owned by Geely .
Just 14% of 1,629 German consumers surveyed by YouGov in 2022 were aware of BYD, the world’s second-largest EV maker after Tesla Aiways said it decided against advertising its Chinese heritage due to concerns that consumers would be hesitant about buying Chinese-made products.safety ratings under Europe's safety standards, going well beyond legal requirements to try to overcome customer doubts.
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