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Could China snatch a 15 percent market share of electric cars in Europe?

The continent’s carmakers once confidently said there would be no demand for Musk’s quirky and expensive cars — which today account for one in five electric vehicles sold in Europe. According to KPMG, Chinese groups could snatch a 15 per cent market share of new car sales in Europe — larger than France’s Renault — within the next two years.

Does China buy electric cars?

With their home market largely conquered — China buys proportionately more electric vehicles than any other country — companies such as Nio, BYD, Li Auto, Xpeng and Great Wall have turned their eyes abroad. So far, China has tapped western markets largely by buying existing brands; Geely owns Swedish carmaker Volvo, while SAIC owns MG in the UK.

Is Norway a good choice for China's new energy auto companies?

In this trend of China's new energy auto companies going overseas, Weilai, Xpeng, BYD and other auto enterprises all consider Norway as their first choice. Norway has become the country with the highest proportion of electric vehicle sales in the past few years.

Will China's electric car industry overtake traditional automotive heartlands?

Industry executives and policymakers are worried. While China was relatively late to develop a car industry that can compete with Europe and the US on engine technology, the shift to electric gives it the chance to overtake traditional automotive heartlands.

Are Chinese new energy auto companies competitive?

Chinese auto companies mainly took the middle- and low-end routes overseas, relying on the cost-effective way as their main competitiveness. Besides, Chinese new energy auto companies have invested a lot in design, technical performance and intelligence, but they are relatively weak in their own brand construction.