business / news / / Japan Today
Chinese carmakers have quickly built up their presence in the lucrative European auto market.
Chinese carmakers held 9% of European auto sales and 14% of EV sales in March 2024.
KEY POINTS
- BYD is building a factory in Hungary, while XPeng is assembling kits in Austria.
- EU tariffs on imported electric cars in 2024 are driving Chinese firms to localize production.
- Stellantis may produce Leapmotor models in Spain under Opel branding as part of localization.
- Renault is developing its new electric Twingo in China, imitating Chinese rapid development cycles.
COMPANIES
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