SMM Analysis: China's Electric Vehicles Face 45% Tariff, "Going Global" a Challenging Journey Amidst European Market Competition

[SMM Analysis] China's Electric Vehicles Face Up to 45% Tariff, "Going Global" for Autos: A Long and Arduous Journey!

Given that exports to the European Union account for nearly 20% to 30% of China's total electric vehicle exports, how significant is the impact on Chinese brands? According to statistics from the China Passenger Car Association, in the European battery electric vehicle (BEV) market in 2023, European brands held a 51.7% market share, American brands had a 19.9% share, and Chinese independent brands accounted for 9.1%. Looking at the share of European BEV market occupied by Chinese automakers, SAIC Motor and Geely Holding Group (including Volvo and Polestar) together comprised 10.9%, while BYD, Great Wall Motor, NIO, and XPeng collectively only accounted for 1.3%. Overall, most of the Chinese electric vehicles exported to Europe are Western brands manufactured in China, and Chinese local brands' sales in Europe account for less than 50%...