🇪🇺 After initial setbacks from EU anti-subsidy taxes, Chinese brands like BYD and Chery are bouncing back—a 64% YoY sales surge in February 2024, capturing 4.1% of the European market.

🔥 Key Highlights:

✅ Hybrids & Smart Moves: While pure EV sales dipped (-3.4%) due to tariffs, plug-in hybrids (PHEVs) skyrocketed +321%, with BYD’s Seal U, MG(SAIC)’s HS PHEV, and Chery’s Jaecoo 7 leading the charge.

✅ New Players Enter the Arena: Changan Auto debuted in Munich with nine models.

✅ Localization Wins: From Chery reviving Spain’s EBRO brand to BYD’s upcoming Hungary/Turkey factories, Chinese automakers are investing heavily in Europe to win local trust.

🌍 Why Europe?

As an expert notes:" Europe is the ultimate proving ground—17% of the global market, hyper-competitive, and a badge of prestige. Succeed here, and the world follows."

🚗 What’s Next?

XPeng expands to Poland, Switzerland & more, targeting double-digit growth in 2025.

Leapmotor (backed by Stellantis) saw sales jump from 15 to 895 units in Europe—thanks to its €16K T03 mini-EV (image attached). BTW in China, this type of car is humorously referred to as "老头乐" lǎo tóu lè, which roughly translates to "old man's joyride."🤣🤣🤣

Changan plans 10+ European markets by 2025 and 1,000+ local hires.

💡The Takeaway: differentiation and deep localization.

#BYD#Chery#SAIC#Changan#XPeng#Leapmotor#Stellantis#Globalization#Localization#Europe#EV#PHEV