Numerous China-based electric automakers announced plans to penetrate Europe as their growth prospects weaken in their home country.
Per the report, approximately 30 new EV makers are planning UK expansion, with Chinese companies dominating the list.
Zeekr to launch X e-SUV in Europe along with other Chinese EV makers
For instance, Geely-owned Zeekr will soon offer its X electric SUV in China with plans to launch it on the European market after.
Early last month, Zeekr X was spotted testing on a frozen lake in Sweden ahead of its European launch.
Remarkably, Zeekr claims that the X model offers two vehicle unlock options: in-car fridge and facial recognition. As for the performance, the Chinese model can accelerate 62 mph (100 kph) in just approximately 4.0 seconds.
For that innovation, the e-SUV will only have a base price of 189,000 yuan (£22,000) in China. That amount indicates an almost 50% price difference with Tesla’s cheapest Model 3 (£40,000). Meanwhile, the best-selling model in Britain, Y, costs £44,000.
Assuming that Zeekr X will have a similar launch price in the UK as its Chinese base price, it will be substantially more affordable than its co-Chinese rival BYD’s Atto 3 ( £36,500).
It is also worth noting that Zeekr’s parent company Geely owns the British auto brand Lotus. It also has a substantial share in Ashton Martin.
Nonetheless, it must be noted that Europe has strict safety standards, which can potentially raise the X’s price when it lands in the region.
Other Chinese EV makers with European launch plans
As mentioned, up to 30 new EV companies, particularly Chinese firms, are planning to start selling their offerings in the UK.
In fact, Chinese EV giant BYD and Ora are reported to have already secured agreements with UK dealers. Other Chinese EV makers such as Chery, Dongfeng, and Haval will apparently follow them shortly.
Furthermore, HiPhi also announced plans to enter the European market with its motors. It is also contemplating proposals for UK expansion. Remarkably, its cars boast advanced headlights to project films and scent dispensers depending on the driver’s mood.
Given Britain’s growth prospect for the industry, Chinese electric automakers’ UK expansion plans are not surprising. It is set to be among the first nations to ban sales of fossil fuel engine-powered vehicles by 2030.
Meanwhile, according to government figures released on Thursday, Chinese exports increased by 15% last month. Globally, vehicle exports increased by 82% as China moves closer to overtaking Japan as the world’s second-largest exporter of passenger cars.
Undoubtedly, Chinese electric automakers are expanding abroad as domestic economic development weakens.
