A Bloomberg report revealed that 19.5% of battery-electric vehicles sold in the European Union in 2023 were manufactured in China. The primary factor driving this trend is price, as Chinese electric cars from brands like MG and BYD are significantly cheaper than European models while offering advanced technical specifications. Additionally, the American company Tesla sold many cars to Europe from its Shanghai factory.
Chinese brands like BYD held only a 0.4% share of the European electric vehicle market in 2019, but this figure jumped to 8% last year. In response, the European Union is considering raising tariffs from 10% to 25%, which could generate around €6 billion annually and help European-made cars better compete with Chinese electric vehicles.
