CNBC predicted the quick “capture of Europe by Chinese electric car. Manufacturers from the Asian country, according to analysts of publications, are able to take advantage of new laws in European countries and low competition in the local market.
The authors are as an example of several Chinese electromotive startups, in particular, NiO, which is already trading on the New York Stock Exchange. They all have ambitions on global expansion and exit to the American and European markets.
This is facilitated by new rules and laws adopted in most European countries – both incoming and not included in the European Union. In the coming years, their authorities expect to completely abandon the use of traditional cars with internal combustion engines and switch to electric cars.
Analysts note that Chinese manufacturers were able to gain an advantage due to the time for about 10 years – due to the fact that the country’s authorities have long limited foreign participation in local companies.
In the first 11 months of last year, Chinese companies exported 63.5 thousand electric vehicles. In the late 2020th investment transaction with the EU, which opens the markets of the parties to each other, should contribute to the growth of this indicator.