The EU is to limit the number of hybrid electrical vehicles imported from China to 350,000 cars a year, the European Commission has confirmed. Imports have been soaring in the last two years with about 800,000 battery and plug-in hybrids likely to be sold this year. The EU expects that the quota, which will come into force in December, will halve China’s market share which now stands at 6% in a landmark four-year agreement made in Beijing last week. The annual limit on imports of hybrids will be taken under…
Tag: Electric, hybrid and low-emission cars
China agrees to ‘halve’ hybrid car exports to EU in landmark deal
The EU said it has reached a landmark deal with China to “halve” its sales of hybrid cars in the bloc amid fears surging sales could kill off parts of the European car industry. Trade commissioner Maroš Šefčovič said the deal was the first of its kind and the result of “intense” negotiations with China since June to curb a trade deficit of €1.18bn (£1bn) a day, which has caused mounting tensions between the two economic powers. The deal “opens the prospect of cutting China’s export [of hybrids] by more…
UK car industry faces ‘difficult trade-off’ between Chinese and EU markets
Britain’s car industry is grappling with a “difficult trade-off” between China and Europe, as manufacturers struggle to balance the benefits of both markets ahead of looming trade measures that could restrict UK exports to the EU. The UK is an outlier in choosing not to put import taxes on Chinese vehicles, even as the US has shut them out almost entirely, and the EU imposes duties of up to 45%. EU officials reportedly warned Andy Burnham last month that the UK must put tariffs on cheap Chinese vehicles otherwise Brussels…
Alarm bells sound in Brussels as EU sales of Chinese hybrid cars rocket
Sales of Chinese hybrid cars have rocketed in the EU in the past four and a half years, new data shows, underlining growing concerns in Brussels over the future of the European car industry. In 2022, just 659 Chinese-made fully hybrid cars (vehicles in which the petrol or diesel engine charge the motor and battery) were sold in the EU. However, after Brussels imposed anti-subsidy tariffs on fully electric cars from China in 2024, sales of hybrids have shot up to 160,662 in the first seven months of this year.…
Chinese EV sales surge to new high in Europe putting tariffs under scrutiny
Imports this year now account for 14% of the market amid claims vehicles are being dumped in the EU and UK Chinese electric car sales have risen across Europe to a record high driven by strong demand and low tariffs in the UK and a surge in buyers in Italy. Against a backdrop of claims that Chinese carmakers are “dumping” state-subsidised vehicles in the EU and UK to gain market share, the figures will give impetus to calls for quotas and higher tariffs to protect European manufacturers. Continue reading… The…
EV prices in UK and EU not likely to dive due to Chinese rivalry, says Xpeng boss
Motorists in the UK and EU should not expect a sharp drop in the cost of electric vehicles despite increased competition among Chinese manufacturers, one of the country’s biggest electric carmakers has said. Brian Gu, the vice-chair of the manufacturer Xpeng, said that Chinese carmakers could compete on quality to win customers in the EU and UK, rather than unleashing a brutal price war as they have in China. Chinese carmakers have rapidly risen to dominate the global EV industry, helped by massive government subsidies and lower labour costs than…
UK car sales hit post-Covid high for May as Chinese EV makers gain ground
British car sales rose in May to their strongest level for the month since before the Covid pandemic, driven in part by strong growth from the Chinese manufacturers BYD and Chery. Car registrations rose by 7% to 160,662 during the month, according to figures from the Society of Motor Manufacturers and Traders (SMMT), a lobby group. Sales of battery electric cars rose the fastest, accounting for more than 27% of the market. Chery sold 8,200 cars during May across its Chery, Jaecoo and Omoda brands, while BYD sold 5,200. Over…
The American epoch of oil is collapsing. What comes next could be ugly | Jonathan Watts
“Farewell,” the flag-waving Chinese children chanted to Donald Trump as he strolled along the red carpet back to Air Force One at the end of his summit with Xi Jinping in Beijing. The US leader claimed he was leaving with a cluster of “fantastic” trade deals to sell US oil, jets and soya beans to China. That has not been confirmed by his smiling host, but one thing was crystal clear from the two days of meetings: the global balance of power is shifting, from the declining petrostate in the…
EU carmakers pave way for Chinese rivals as balance in market shifts
Chinese carmaker Xpeng is on the hunt for a factory in Europe. Volkswagen is aiming to reduce the number of its factories. It seems like it should have been the perfect set-up for a deal. Yet there was one problem with the plant on offer, according to Elvis Cheng, Xpeng’s managing director of north-eastern Europe: “It’s a little bit, I would say, old.” The withering verdict on the facilities of Germany’s carmaking champion, delivered this week at a Financial Times conference, may cause some awkwardness between Xpeng and Volkswagen, which…
Nissan ponders building cars for Chinese rivals at Sunderland plant
Nissan’s chief executive has confirmed he would consider building cars for other manufacturers at the UK’s largest car factory in Sunderland, amid talks with China’s Chery. Ivan Espinosa said Nissan was “looking at options” for Sunderland and its 6,000 workers as the struggling Japanese carmaker on Wednesday reported steep losses for the year to March. Nissan announced last week it was closing one of its two production lines at Sunderland, in north-east England, because of faltering demand for its vehicles. However, it has held talks to produce vehicles on behalf…