File - Passengers wait near a hybrid luxury SUV from China automaker Lynk&co displayed at the train station in Hangzhou in eastern China’s Zhejiang province on Monday, July 3, 2023. Chinese automakers are winning over drivers as they make major inroads into Europe’s electric vehicle market, challenging long-established homegrown brands in an industry that’s key to the continent’s green energy transition.
British retiree John Kirkwood replaced his Volkswagen Passat three years ago with an MG5 station wagon because the 30,000-pound price tag “wiped the floor” with its nearest rival — a Kia that cost thousands more. The surge is stoking fears about Europe’s automotive industry, an economic powerhouse centered in France and Germany that employs millions of workers, staying competitive as it transitions from fossil fuels to electricity.
Complicating matters, global automakers build vehicles in China and have exported 164,300 this year to Europe, including BMW’s iX3 SUV made in northeastern Shenyang and Tesla’s Model 3 and Y produced in Shanghai, according to Schmidt’s data. That means one in every five EVs sold in Europe is a Chinese import.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »