Chinese automakers pivot to hybrids for Europe to counter EV tariffs

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The story "Chinese automakers pivot to hybrids for Europe to counter EV tariffs" was covered 2 weeks ago by Business Standard, a news publisher based in India.

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Chinese automakers pivot to hybrids for Europe to counter EV tariffs - Business Standard

Quick Summary:

That helped exports of plug-in hybrids and conventional hybrids account for 18 per cent of China's total vehicle sales to Europe in the third quarter, doubling from 9 per cent in the first quarter.

Major Chinese automakers could upend the European plug-in hybrid market dominated by European and Japanese firms as they meet rising demand for affordable cars with better fuel economy amid rising inflation.

Some manufacturers are also shifting production and assembly to Europe to lower the cost around tariffs."The increase is driven by Chinese OEMs shifting toward PHEVs (plug-in hybrids) as a way to sidestep the new EU tariffs on BEV (battery-powered EVs) imports from China," said Murtuza Ali, an analyst at Counterpoint Research.