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The Chinese car manufacturer GAC is evaluating EV production in Europe to avoid EU tariffs, the chief executive of its international business told Reuters.
The company, which is among China’s largest automakers, aims for 500,000 overseas sales by 2030.
It doesn’t yet sell EVs in Europe, but it will launch a bespoke electric SUV for the European market at the Paris Motor Show this week.
Management said they are considering moving production to the EU to overcome EU tariffs.
GAC is joining a growing list of Chinese EV makers planning local production in the EU.
Since the introduction of tariffs on Chinese-made EVs last July, voted on in early October, China-based automakers are trying to adapt to or avoid the tariffs, with some of them moving production to Europe to get around duties and increase sales in the region.
For example, BYD is building factories in Türkiye and Hungary, while Xpeng e Geely they say they are looking for a production site in the EU.
Recall that among EU OEMs, the most exposed to the EU and China are the traditional German car manufacturers (VW/MBG/BMW with 75%/68%/67% of volumes from these regions). On the other hand, RNO and STLAM have negligible volumes from China.
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The investor has a series of thematic tools available on the Italian Stock Exchange that “capture” the value chain of electric mobility. Between those…
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