Chinese brands are likely to struggle to sell cars in Europe as cheaply as at home. They also need to build trust.
BERLIN, Germany – China’s electric vehicle makers, which have raced past foreign rivals to top sales rankings at home, are arriving in Europe – and facing a new set of challenges.are just some of the issues Chinese brands such as BYD, Nio, and SAIC’s MG will have to overcome to thrive in Europe.Of new EVs sold in Europe so far this year, 8% were made by Chinese brands, up from 6% last year and 4% in 2021, according to autos consultancy Inovev.
But they are also fighting back with their own raft of EV launches and plans to slash manufacturing costs and prices, so the Chinese newcomers will have to be at the top of their game. The ace in their pack is price. The average price of an EV in China was less than 32,000 euros in the first half of 2022 compared with around 56,000 euros in Europe, according to researchers at Jato Dynamics.Logistics, sales taxes, import duty, and meeting European certification requirements all add costs, said Spiros Fotinos, Europe CEO for Chinese brand Zeekr, owned by Geely.
Surveys indicate most potential EV buyers in Europe do not recognize Chinese brands. Those who do are hesitant to purchase a Chinese car – reminiscent ofand South Korean automakers’ decades-long struggle to win trust and adapt to European tastes. Aiways said it decided against advertising its Chinese heritage due to concerns that consumers would be hesitant about buying Chinese-made products.
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