Chinese automakers have found a way to bypass EU tariffs.
Chinese automakers are increasingly ramping up the export of hybrid cars to Europe, thereby expanding their model ranges. The reason for this is the EU tariffs on the import of electric vehicles from China.
Analysts state that several Chinese companies are also relocating production to Europe to reduce car costs.
'Chinese automakers are rapidly shifting to plug-in hybrid vehicles to avoid new EU tariffs on imported electric vehicles from China,' said Counterpoint Research analyst Murtuza Ali.
It is worth noting that EU tariffs on electric vehicles do not apply to hybrid cars.
Exports of hybrid cars from China to Europe are expected to increase by 20% this year and even more next year.
Europe is also one of the most obvious markets for Chinese automakers, especially considering the 100% tariffs on Chinese-made electric vehicles in the US and Canada.
According to the China Passenger Car Association, from July to October, exports of hybrid vehicles to Europe increased more than threefold to 65,800 units compared to the same period last year.
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