The Rise of Chinese EVs: How Europe is Adapting to the New Automotive Landscape

 Overview

Unlike most people think, electric vehicles have been around for so long. In fact, the concept of electric cars dates back to the 1830s, with Scotland’s Robert Anderson, whose motorized carriage was built in 1839, and since then, developers and business owners have been striving to make this ambitious plan more practical and effective in order to function in various kinds of landscapes and environments.

Lately, the electric vehicle idea started to resurface as numerous companies and industries, especially in advanced technological countries, have been attempting to rejuvenate this ambitious project in the modern era. Among these technologically advanced countries that started to invest in this concept is China.

The Chinese electric vehicle industry has been witnessing significant growth lately, making China one of the most dominant electric car exporters in the world. According to recent statistics, Chinese electric vehicles have started to gain huge momentum in the global market, especially in the European region. which urged Europe to take various measures in order to limit the Chinese dominance in the electric cars’ market.

The Unprecedented Growth Of Chinese EVs Sales In The West And How Europe Is Taking Measures To Counter The Chinese Dominance Over The EVs Market

Over the recent decades, China has been achieving huge technological and scientific advances, making the country one of the most innovation-driven countries in the globe. 

Chinese technological products and services started to gain a huge momentum in the international market as more and more Chinese brands have been witnessing a noticeable ability to reach a broader consumers’ base in all regions of the world.

This is mainly attributed to their lower price compared to their western counterparts, which promotes affordability among people, as not only the wealthy groups of people are capable of buying Chinese brands.

The Chinese technological prowess and ground-breaking innovations played a key role in the development of numerous industries over the recent decades.One of the most prominent industries China has been investing in recently are electric vehicles.

Lately, the competition from various technological industries, especially in the electric cars sector, has been increasing considerably, as there has been a massive supply of EVs (electric vehicles) in China and staggering growth of exports in many regions of the world, especially in Europe.

Chinese electric car manufacturers have been studying and observing the European car market and buyers for a long time to learn about the car market dynamics in the region and consumers’ preferences and tastes in order to make informed and well documented business decisions and adopt efficient strategies, such as raising awareness of their brands and highlighting their notable features.

The supremacy of the Chinese EV market started to reshape the global market landscape as it succeeded in maximizing the number of exports significantly, and it is targeting both developed and developing countries. This creates geoeconomic dominance at the expense of western manufacturers, especially in Europe.

According to recent statistics, China owns more than 50% of the global electric car market exports thanks to their affordability and diversity, making them suitable for various tastes, preferences, and budgets.

In order to tackle the Chinese dominance of electric vehicles, the European Union started to take measures like increasing tariffs on exported Chinese EVs. These tariffs are intended to limit the flood of Chinese EVs in the region.

The European Commission stated that it will impose extra duties of up to 38% on imported Chinese electric cars. This could limit the huge influx of Chinese low-cost electric vehicles, support local businesses, and safeguard its internal market.

Bottomline

The electric car sector has been witnessing huge development and innovation over the recent decades, mirroring the technological prowess and innovative capabilities of technologically advanced countries, especially China, which is considered one of the pioneers of electric car exports in the world.

However the fierce competition within the electric car field started to spark numerous geopolitical issues most notably within China-EU relations as Chinese EVs exportations are taking over the European market.