Chinese automakers have made gains in Europe’s shift to electric vehicles, emerging as the biggest winners in electric hybrids despite moves by Brussels to limit their expansion.
As gasoline prices rise across the European Union, reaching a record high of more than €2.30 per liter ($9.91 per US gallon) in Germany this month, the shift to battery power has accelerated. Battery electric registrations jumped 62.7 percent year-on-year in August and accounted for 21.7 percent of new registrations in the first eight months of the year – the equivalent of petrol-powered cars – according to data published by the European Automobile Manufacturers Association (ACEA) on Thursday.
Chinese automakers accounted for almost all of the new volume. The EU market grew by 30,720 vehicles in August, a year-on-year increase of 4.5 percent, with BYD, Chery, Leapmotor and SAIC accounting for about 92 percent of the net increase, based on ACEA figures. BYD registrations doubled to 20,845, while Chery registrations tripled to about 14,000.
