Chinese EVs gain in EU market amid high gas prices

Chinese carmakers have gained ground in Europe’s shift to electric cars, reports the South China Morning Post. This comes despite moves by Brussels to curb their expansion.

As gas prices climbed across the EU, hitting a record high of more than €2.30 a litre ($9.91 a US gallon) in Germany this month, the move to battery power gathered pace. Battery-electric registrations rose 62.7% year on year in August and accounted for 21.7% of new registrations in the first eight months of the year–equal with gas-powered cars–according to data published by the European Automobile Manufacturers’ Association (ACEA) on Thursday.

Chinese carmakers took almost all of the new volume. The European Union market grew by 30,720 vehicles in August, a year-on-year increase of 4.5%, with BYD, Chery, Leapmotor and SAIC accounting for about 92% of the net increase, based on ACEA figures. BYD’s registrations more than doubled to 20,845, while Chery’s tripled to about 14,000.