Western companies shift electric vehicle production to Europe amid rising customs duties
A recent study revealed that Western car manufacturers have increased their production of electric vehicles in Europe following the European Union's imposition of tariffs on imports from China. As a result, the market share of Chinese cars in Europe dropped from 38% in 2024 to 23% in the first quarter of this year. Additionally, the exports of the Chinese companies BYD and Geely have significantly risen since the implementation of the tariffs, while Sany's sales declined due to the higher cost of customs duties. The report also indicated that some Chinese companies have moved part of their production to Europe and are in the process of establishing new factories across the continent.
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