As many has 800,000 cars from China could be sold in Europe by 2025, a new study has found, with the vast majority of them being all-electric.
A PwC study has revealed that much of the increase in global sales of battery electric vehicles can be attributed to China where some 1.5 million BEVs were sold in the third quarter of this year, a massive 94 per cent increase from the third quarter of 2021. EVs are proving so popular in China that in Q3 2022, approximately 73 per cent of all BEVs sold in analyzed markets were sold in China, a huge jump from just over 50 per cent last year.
On the back of huge sales successes in China, these automakers are expected to rapidly expand their presence throughout Europe. PwC notes they could have a 3.8 per cent to 7.9 per cent share of European EV sales in 2030. Of course, not all these EVs will come from Chinese car manufacturers as some 330,000 of the 800,000 Chinese-built EVs will be from Western automakers like Tesla, BMW, and the Renault Group.
Read: Profits Are Nowhere To Be Seen At Most Chinese EV Makers Despite Rising Sales
PwC noted that supply chain issues have badly affected European carmakers and that Chinese brands are looking to make the most of current market conditions.
“Chinese manufacturers, on the other hand, have optimized and developed their products in the domestic market, so that they are now bringing affordable BEV models, innovative technology and novel concepts to Europe,” PwC Germany partner and automotive leader Felix Kuhnert described, per Automotive News Europe.
The study noted that approximately 200,000 vehicles from Chinese brands will be sold in Europe this year, of which 90,000 will be full-electric, 40,000 will be plug-in hybrids, and the rest will have internal combustion engines. If Chinese-built vehicles do flood the European market as expected, Europe could turn into a net importer of cars with an import surplus of more than 221,000 vehicles in 2025.
