European governments may be wary of budget Chinese electric vehicles flooding their markets but they're also fiercely competing for a share of the...
MILAN - European governments may be wary of budget Chinese electric vehicles flooding their markets but they're also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring.
Sales of Chinese-brand cars comprised 4% of the European market last year and are forecast to hit 7% by 2028, according to consulting firm AlixPartners. China's Leapmotor will use existing capacity of Franco-Italian partner Stellantis, with Reuters reporting the pair have chosen the Tychy plant in Poland as a manufacturing base.
Chery plans a second, larger facility in Europe, a source with knowledge of the company's plans told Reuters, and has held talks with governments including Rome, which is keen to attract a second automaker to rival Fiat-maker Stellantis. The first, based at an existing facility, could be announced as early as July and would employ a kit-assembly technique, targeting annual production of up to 50,000 vehicles, one of the sources said. SAIC's second European plant would be built from scratch and produce up to 200,000 vehicles annually, the source added.CONTROLLING COSTS IN EUROPE
European Union Gianluca Di Loreto European Plant Chinese Counterparts Chery Automobile Chinese Automaker SAIC Electric Vehicles China Europe
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