China is going after the European car market with its NEVs, says TrendForce, which predicts that the market share of Chinese car brands in Western Europe’s NEV market will rise from 6% in 2022 to an 9% this year.

 

Leading the push is SAIC  Motor’s flagship brand, MG. 

Getting into a new market demands substantial investments. Establishing showcase centres, after-sales service systems, and charging infrastructure which all come at a cost. 

The key to Chinese car brands achieving success lies in their ability to maintain a competitive edge while shouldering these additional expenses, says TrendForce.

 

In Southeast Asia, the forecast for2023 forecast mis that Chinese  companies will have a 63% market share.

In Q1, NEVs accounted for a quarter of all China’s car exports