Driving competition: China’s carmakers in race to dominate Europe’s roads

Chinese car manufacturers are aggressively expanding into the European market, particularly in the UK, leveraging the global shift to electric vehicles to gain significant market share. Brands like BYD, Omoda, Jaecoo, MG, Volvo, Polestar, Great Wall Motor, Xpeng, and Leapmotor are either selling directly or have ownership stakes in European brands, with the UK serving as a crucial gateway due to its open trade policies. This expansion is occurring against a backdrop of global automotive industry challenges, including supply chain issues and trade barriers in other major markets like the US and EU. The UK's openness to Chinese imports, partly driven by its own carbon dioxide reduction targets and the absence of a large domestic automotive manufacturer to protect, has made it a prime battleground. Chinese brands are successfully attracting British consumers with competitive pricing, advanced features, and innovation, leading to substantial sales growth. This has forced established players to increase their agility, accelerate development, and reduce costs to remain competitive. This surge in Chinese car sales is partly fueled by overcapacity in Chinese factories, leading to inten... download the app to read more