EV Photo:VCG

 
Despite the EU's decision to impose tariffs on Chinese electric vehicles (EVs), China's automakers have captured global attention at the ongoing 2024 Paris Motor Show held from Monday to Sunday, showcasing the growing strength of Chinese-made EVs, including affordability and technological advancement.

Nine Chinese automakers including Seres, BYD, GAC Group, Xpeng, Leapmotor, and other brands are attending this year's Paris auto show, unveiling their latest achievements in new-energy vehicles and technology innovations. 

The number of attending Chinese firms surpassed automakers from other countries at the event, news outlet yicai.com reported. 

The European market presents a significant opportunity for Chinese carmakers, said Zhang Xiang, secretary-general of the International Intelligent Vehicle Engineering Association, adding that Chinese brands can put on full display their competitive advantages, including affordability and cutting-edge EV-making technology. 

Hongdi Brian Gu, honorary vice chairman of the Board and co-president of Xpeng said that the company aims to establish itself as a supplier of premium electric cars in Europe by offering more budget-friendly models, per the report from yicai.com. 

A person in charge of Dongfeng Forthing said that the company has been intensifying efforts to develop the European market, with its exports to the EU market reaching 5,000 units in the first three quarters of the year and achieving a year-on-year growth of 325 percent, the people.cn reported. 

Meanwhile, industry insiders said the EU's tariff imposition on Chinese EVs could hinder Europe's progress and competitiveness in the EV sector. 

Zhang told the Global Times on Wednesday that the EU's decision to impose tariffs is not conducive to promoting auto development for both Europe and China, adding that there also would be uncertainties for the bloc to implement such protectionism measures for the long term. 

Wu Shuocheng, a veteran automobile industry analyst, told the Global Times on Wednesday that the EU's imposition of tariff would also limit its access to more affordable options for European consumers. 

The report from yicai.com noted that multinational car companies are planning to launch affordable EV models targeting the EU market amid a weakening demand, which will see a wave of small electric cars with an average price of 25,000 euros ($27,240). 

China and the EU have yet to reach a mutually acceptable solution on the EU's anti-subsidy case involving Chinese EVs, despite important progress in certain areas, China's Commerce Ministry said on October 12. China hopes that the EU will arrange the visit as soon as possible and push forward the consultations with a constructive attitude in order to reach an appropriate solution at an early date, a spokesperson from the ministry said.


Global Times