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EU imposes limits on Chinese hybrid cars
The Chinese hybrid car industry is experiencing a significant surge in exports within the European Union, with its value tripling to reach $7.5 billion in the first half of 2024. This growth is driven by tariff incentives and weak charging infrastructure. Following the EU's imposition of tariffs on Chinese electric vehicles starting in 2024, companies have shifted their focus toward plug-in hybrid vehicles, which account for more than half of their sales in the European market. The sector is expected to face new restrictions as Europe approaches a decisive decision on whether to allow Chinese companies to dominate the market, while Chinese cars occupied 15% of the electric vehicle market in the second quarter of 2024.
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