Chinese electric vehicle (EV) manufacturers are ramping up efforts to penetrate the European market as the European Union prepares to implement tariffs on Chinese EVs. Companies like BYD, Chery, and Great Wall Motor are planning around 20 product launches over the next five years and are investing heavily in sales and marketing. Meanwhile, European automakers are responding with new affordable EV models. Volkswagen has unveiled a new electric car priced at £17,000, and Stellantis is launching an affordable EV in the UK starting at $28,000. Renault is partnering with Chinese firms to develop sub-€20,000 Twingo electric cars. Additionally, Nio has integrated its charging network with IM Motors, secured its first external investment of around $200 million, and is set to start operations of a 150-kWh ultra-long-range battery pack on June 1. Nio's stock surged 10% ahead of May deliveries. The EU's tariffs could cost Beijing nearly $4 billion in trade, and German ministers have expressed concerns about the potential economic impact.
European Union tariffs on Chinese electric vehicles would cost Beijing nearly $4 billion in trade with the bloc, according to new analysis https://t.co/QRl7rCrgZl
Renault links up with Chinese partner to build $22,000 EV after VW broadside. https://t.co/ASmmsoygHm
Developing markets will be key markets for China's #EV exports, but it will hard to replace Europe if high tariffs are imposed. Thailand a key market to watch - the country has emerged as the largest importer of Chinese EVs in Asia. https://t.co/xSOcMtPL4d
CnEVPost Newsletter: Nio Power's 1st external financing; Nio May deliveries poised to be strong https://t.co/VQy3cGDHve
How should the US and Europe deal with the global wave of Chinese electric vehicles? Do what they did decades back when Japanese cars were starting to come: Learn from them and make their own brands better. Not tariffs. All☝️not mine but👇 WATCH THIS https://t.co/bjgAOC43Uo
Geely, Renault Link Arms on UK Powertrain Plant With Expected Revenue of USD16 Billion @GeelyGroup @renaultgroup https://t.co/ibkLqrdTsz
BREAKING: Nio's power unit secures 1st external investment of around $200 million https://t.co/EZdNFJ5nNW $NIO
Renault and Geely join in hybrid and combustion venture https://t.co/2QOVvh0kiK
Renault, Geely create joint venture for hybrid, combustion engines https://t.co/n7Z9B3U61a https://t.co/2Ak1wy4sxe
EU tariffs on Chinese electric vehicles would likely cost Beijing nearly $4 billion in trade with the bloc, according to a new analysis https://t.co/krv7YC8rvX
Chinese automaker @GeelyGroup and France’s @renaultgroup today announced the formation of a 50-50 joint venture, Horse Powertrain, following an agreement they signed last July. The new London-based company will develop hybrid and combustion powertrain components and systems. https://t.co/ivdm75Bu05
Nio to start formal operations of 150-kWh ultra-long-range battery pack on Jun 1 https://t.co/rPWWInW0dZ $NIO
NIO Shares Jump on Potential Record Sales in May https://t.co/WViygx2K4l
EV stocks surge in HK ahead of May deliveries, Nio leads with 10% gain https://t.co/U9PsGupQrc $NIO $XPEV $LI
Around 20% of all-electric cars sold across the #EU in 2023, or 300,000 units, were made in #China. Over half of them come from Western carmakers, such as Tesla & BMW, which produce them in China for export, data from the European Federation for Transport and Environment showed. https://t.co/fZj1TaBCP9
🔵 RENAULT TO DEVELOP TWINGOS PRICED UNDER 20,000 EUROS WITH CHINESE PARTNER Full Story → https://t.co/sh74VE7DcT Renault said it would link up with a Chinese engineering company to develop future Twingo cars priced below 20,000 euros ($21,676), as European automakers target… https://t.co/4EXatMaOFK
German ministers expressed concerns about possible European tariffs on Chinese #EVs, saying the move could backfire, harming Germany's economy and undermining fair int'l trade https://t.co/K3CJpMjili https://t.co/K7CItkjbjn
According to the European Federation for Transport and Environment, around 20% of all-electric cars sold across the EU in 2023 were made in China. Over 50% of them come from Western carmakers like Tesla and BMW https://t.co/AIE1WIb9Df https://t.co/delDcOcJ0R
Renault will develop much of its sub-€20,000 Twingo electric car in China https://t.co/SJIqmioIIf
Stellantis to take on BYD with new affordable EV launching in the UK, starting at $28,000 https://t.co/DTXNYgLXLb by @EVPeteJohnson
The European Union faces a delicate balancing act as it prepares to rev up taxes on Chinese electric cars to protect European industry, even as it aims to get more Europeans to drive such cars ahead of a ban on the sale of fossil fuel-powered cars. https://t.co/MpcXSEWQ4I
Sizzling! China's April 2024 Plug-in EV sales were up 30% compared to April 2023. YTD sales are up 32%! Plug-in autos were 44% of auto sales in April 2024. A total of 703,788 Plug-in autos were sold in just April, of which 59% were fully electric. https://t.co/pT7ohgbU8x https://t.co/v6xTTsfdAN
Chinese EV titans BYD, Chery and Great Wall Motor are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in Europe https://t.co/TIndJc7QBY
Chinese EV titans BYD, Chery and Great Wall Motor are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in Europe. More here: https://t.co/rmHzsKKx79
As the first wave of Chinese EVs arrives in Europe, Volkswagen dealers have been decamping to a test track in east Germany to plot their pushback. https://t.co/I6YiwfZeLA
Volkswagen unveils cheap electric car for £17,000 launching soon as company pleads EVs are the 'future' https://t.co/avD9VJWazt
🇨🇳🌎 How #China's #EV makers aim to beat Tesla, legacy automakers in #Europe - Reuters https://t.co/2AoOwhkgdJ
🇨🇳 🇪🇺 #China gears up to make a deal with Europe as EV tariffs loom - Reuters https://t.co/bCdJcIgWKB
Starting in the 1980s, European automakers steadily conquered China, racking up millions in sales with little local competition. Now they'll have to defend their home turf in Europe from an onslaught of formidable Chinese electric vehicles https://t.co/0Z1oMGSwVi
Starting in the 1980s, European automakers steadily conquered China, racking up millions in sales with little local competition. Now they'll have to defend their home turf in Europe from an onslaught of formidable Chinese electric vehicles. More here: https://t.co/EjDFxgXXiN
How China's EV makers aim to beat Tesla, legacy automakers in Europe https://t.co/0IOzAaCwzP
China gears up to make a deal with Europe as EV tariffs loom https://t.co/s8iupsZtH1
IM Motors plugs into Nio's charging network https://t.co/sTe2xHodxd $NIO