Chinese carmakers reset European ambitions as EU tariffs bite

Chinese carmakers expanding into Europe are facing significant challenges due to high tariffs, with the EU imposing up to 45% tariffs on their electric vehicles (EVs), hindering competitiveness and product launches. Despite ambitions to grow their market share, which currently stands at only 4.3%, companies like Nio and Leapmotor are struggling with distribution and production issues, prompting them to reassess their strategies. Meanwhile, some firms like BYD and Zeekr continue to push forward, focusing on hybrids to navigate tariff obstacles and expand their presence across European markets.

Full Article