Chinese carmakers gear up European production to sidestep tariffs, import quota

AI Summary

Chinese automakers are preparing to expand production in Europe as they face an EU import quota targeting hybrid electric vehicles. Companies are considering building factories or using idle plants owned by established automakers to maintain sales in the European market.

Chinese carmakers, facing a European Union import quota targeting their hybrid electric vehicles (EVs), are gearing up for more local production to reinforce their go-global drive. They plan to either splash out billions of yuan to set up their own factories or tap international marques’ idle plants to build their vehicles, looking to sustain a sales boom in one of the world’s major automotive markets. “Global growth shifts from exporting vehicles to Europe to producing them locally, from...