Chinese electric Bike exports to Europe remain stable, with a year-on-year increase of over one-fifth from January to April.
On Tuesday, Schmidt Automotive Research data showed that from January to April this year, the number of Chinese made electric vehicles registered in Europe, including the UK, increased by 23% year-on-year, reaching a total of 119300 vehicles, accounting for about one-fifth of the region’s import volume.
Matthias Schmidt, founder of Schmidt Motors, said that car companies will continue to produce cars from China because it is currently the best way to profit from electric vehicles.
In the first four months, Western and Japanese brands such as Tesla, Volkswagen, and Honda accounted for 54% of the registered Chinese made electric vehicles, while the remaining market share was occupied by MG and BYD Chinese brands.
Against the backdrop of lower manufacturing costs for electric vehicles in China, Western brands such as Tesla and Renault have shifted their production bases to China and then exported to Europe. For example, UBS analysts estimated last year that BYD’s costs were about 25% lower than traditional car companies.
It is worth mentioning that, in addition to concerns about Western automakers relying on the Chinese market, the importance of China as a manufacturing center and a lucrative source of profits has prompted several automotive industry executives to warn the US and Europe not to raise global tariffs on imported electric vehicles from China.
