China-made Electric Vehicles in Europe
China-made electric vehicles are gaining popularity in Europe, with a projected market share of over 25% by 2024. Chinese brands like BYD are expanding globally, challenging Western brands like Tesla in the EV market. The European Commission is investigating subsidies given to Chinese EV makers, while T&E suggests raising tariffs to promote self-sufficiency in the EU's EV industry.
Key Points
- China-made EVs to account for over 25% of European market share by 2024
- European Commission investigating subsidies to Chinese EV makers
- T&E suggests raising tariffs to promote self-sufficiency in EU's EV industry
Pros
- Increasing availability of affordable EVs in Europe
- Encouraging competition and innovation in the EV market
- Potential for Europe to become self-sufficient in EV production
Cons
- Concerns over subsidies given to Chinese EV makers
- Dependency on Chinese battery technology
- Policy risks associated with importing EVs from China