EU To Import 1+ Million EVs From China, Study Says

EU To Import 1+ Million EVs From China, Study Says

Chinese brands like BYD, XPENG and NIO are launching models across Europe in 2023.

China’s electric vehicle (EV) industry is pushing into Europe. According to a new report from global technology intelligence firm ABI Research, in 2030, 1.2 million Chinese-made Battery Electric Vehicles (BEVs) will be imported by the European Union (EU), making up 12% of the bloc’s BEV sales. Chinese brands like BYD, XPENG, and NIO are launching models across Europe in 2023.

Dylan Khoo, industry analyst at ABI Research, says, “Local OEMs are still finding their feet with electrification. These Chinese disruptors are more experienced and entirely focused on EVs. They offer European customers BEVs that are competitive in price and quality across various segments. Chinese-owned brands such as MG and Polestar have already been in the market for a while, and their models imported from China are selling well.”

In the last five years, exports of cars from the EU to China have fallen slightly, but EU imports of Chinese cars have quadrupled, reversing the trade flow, ABI found. In 2022, China became the EU’s biggest source of imported cars, but this still only accounted for under 6% of all vehicles registered that year. However, 28% of the EU’s BEVs were imported from China.

Chinese brands did not make the majority of these imported EVs. Western automakers are increasingly using China as an export base, taking advantage of the local supply chain and the benefits of locating their capacity with the largest source of demand, ABI reported.

“Overcapacity, economic slowdown, and the highly competitive automotive market at home are making Chinese OEMs look overseas for sales. In Europe, they see a lucrative market with a great demand for EVs and few protectionist measures. The European automotive supply chain will be disrupted from two directions: these Chinese brands pushing into Europe, and Western OEMs building production capacity in China for export to Europe,” Khoo concludes.

These findings are from ABI Research’s Chinese Electric Vehicle OEMs application analysis report. This report is part of the company’s electric vehicles research service, which includes research, data and ABI Insights. Based on extensive primary interviews, application analysis reports present an in-depth analysis of key market trends and factors for a specific technology.

You May Also Like

Martinrea Invests $35 Million to Expand Ontario Facility

The company said the new addition will house a new SIMPAC 3000 metric ton stamping press.

Martinrea International Inc. announced plans to invest $35 million to expand its 100,000-square-foot facility in Ridgetown, Ontario. The company said the new addition will house a new SIMPAC 3000 metric ton stamping press. The project is slated for completion by early 2025.

According to Martinrea, the new stamping press will allow for the production of larger and more complex parts for customers, including body-in-white components, battery enclosures and chassis parts. The expansion is part of Martinrea's strategy to grow its presence and capabilities in the North American market, the company said.

Polestar Integrates Renewable Fuels for Ocean Freight

The company is reducing supply chain emissions by integrating renewable fuels on its ocean freight routes, which account for around 75% of its total transportation emissions.

MEMA to Host International Supply Chain Webinar

The content of the webinar will be beneficial to operations, logistics and purchasing teams, the organizations said.

Iveco, Foton Announce Joint Exploration Project

The two companies will look into future synergies in the areas of electric vehicles and components.

Hyundai Motor, Iveco Group Partner on Electric H-D Trucks
Andreas Nix Takes Over as COO of ZKW Group

Nix replaces Stefan Hornvuis, who left the company for personal reasons.

Other Posts

Distressed German Companies: Creating M&A Opportunities

Hertzog discusses how to create opportunities with exceptional values when acquiring the operations of a distressed company in Germany.

Schaeffler Appoints New Head of Investor Relations

Schaeffler AG announced two important leadership changes within the management level directly below the Board of Managing Directors, effective June 1, 2024.

Schaeffler promotions
Yokohama Rubber Q1 2024 Sales Up 23.5%

The figures for sales revenue and business profit were record-high figures for first-quarter performance at Yokohama Rubber.

FAW Trucks Secures Order of 1,000 Vehicles Overseas

FAW Trucks signed the order with its Kenyan dealer, TAM Company.

FAW Trucks Secures Order of 1,000 Vehicles Overseas