The EU’s new tariffs on Chinese electric vehicles (EVs) are not deterring Chinese firms from pursuing the European market, with several predicting higher sales within the bloc.
“It’s something we have to deal with… it’s a large economic impact,” stated Brian Gu, vice chairman and president of a major Chinese EV manufacturer.
This news comes as the EU implements import duties on Chinese-made EVs. This move, while presenting a challenge, doesn’t seem to have quelled the ambition of Chinese EV companies. Instead, they appear to be adapting and strategizing to maintain and even grow their presence in the European market. The reactions from the Chinese companies suggest a long-term commitment to the European market, despite the added financial burdens of the tariffs. They are likely to be finding ways to absorb some of the costs, adjust pricing, or explore alternative strategies to remain competitive in the European market.
