Chinese electric carmakers expand in Europe to avoid high tariffs, partnering with local industries to produce "homegrown" vehicles.
China's electric carmakers, like Chery Automobile, Leapmotor, and BYD, are expanding in Europe to counter the EU's increased tariffs on Chinese EVs, which reach up to 48%. These manufacturers are partnering with local industries to make their vehicles considered "homegrown" to avoid becoming unprofitable. They plan to produce vehicles in Europe to maintain their price advantage over the region's struggling legacy carmakers.
July 26, 2024
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