Reported 2 days ago
Chinese electric vehicle makers have seen their market share in Europe drop to the lowest level in eight months as new tariffs have increased import costs by up to 35%. Despite a boost in registrations for BYD, overall registrations of Chinese EVs fell significantly, especially in Germany and France, following the implementation of these tariffs aimed at countering alleged state aid advantages for China’s EV industry. While Chinese manufacturers are attempting to localize production in Europe, challenges persist as the global EV market slows and protectionist measures intensify.
Source: YAHOO