Even if it is sold under a European or American brand.
According to statistics cited by CNBC, last year 19.5% of battery electric vehicles sold in the European Union were produced in China, even if they were sold under brand names of European or American origin. In France and Spain, for example, the share of Chinese electric vehicles has reached almost one third. This year this figure for Europe on average may reach 25%.
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However, if we consider the products of Chinese brands, then their share in the European electric vehicle market will not exceed 11% at the end of the current year, according to the authors of the study. However, by 2027, under existing conditions and trends, it can grow to 20%.
It is not surprising that last fall European authorities panicked and began investigating Chinese electric vehicle suppliers, and this year they concluded that Chinese manufacturers were able to sell their products at a lower price due to government subsidies in China. According to experts, in the European market, customs duties on Chinese electric cars will need to be raised from 10 to 25% at least in order to make them less attractive in price for local consumers. But even in this case, larger and more expensive Chinese-made electric vehicles will be cheaper in Europe than their European-assembled counterparts.