The European Union’s newly imposed tariffs on Chinese electric vehicles (EVs) are sending a ripple of concern through the global auto industry. In response, BYD, the top EV manufacturer in China, has announced plans to manufacture its Dolphin and Atto 3 models in Europe by 2025, a move aligned with its global expansion strategy.
BYD targets localized EV production in Europe
BYD Executive VP Stella Li revealed that a large-scale manufacturing plant is under construction in Hungary, with plans to ramp up production capacity by late 2025.
Sources at BYD Europe confirmed plans to localize production of the best-selling Dolphin and Atto 3 models, bolstering the company’s international presence. Additionally, BYD has revised its strategy for the Seagull, a compact EV, likely in response to localized market demand.
Li emphasized BYD’s long-term vision to simultaneously produce up to 12 vehicle models in Europe, eliminating the need for vehicle imports from China. The Hungary facility is expected to reach full capacity within two to three years.
Chinese battery maker Gotion’s overseas deployment
Volkswagen-backed Chinese battery manufacturer Gotion High-tech unveiled plans to build state-of-the-art battery production facilities in Morocco and Slovakia, strengthening its foothold in the European market, as reported by China Times.
Gotion plans to invest in high-performance lithium battery plants in Morocco and Slovakia, each with an annual capacity of 20 GWh. The projects will cost EUR1.28 billion (approx. US$1.353 billion) and EUR1.234 billion, respectively, totaling EUR2.514 billion.
Gotion’s Moroccan subsidiary will oversee the phased construction of the Morocco plant, expected to be completed within five years. The Slovakia facility, managed by the company’s other subsidiary GIB, is scheduled for a three-year construction period. Both projects aim to enhance Gotion’s global reach and establish a localized battery supply for the EU market.
Gotion High-tech quick takeaways
Ranked as the world’s eighth-largest EV battery producer with a 2.6% market share in the first ten months of 2024 (SNE Research), Gotion continues to solidify its global presence.
Gotion’s projects in Slovakia and Morocco are set to strengthen its global strategy, drive international expansion, and address growing demand in overseas markets, according to the company.
As a leader in China’s new energy battery sector, Gotion focuses on power batteries, energy storage systems, and power transmission technologies.
EU imposes tariffs on Chinese EVs up to 45.3%
The EU has introduced tariffs on Chinese-made EVs, starting at 10% and reaching up to 45.3% with punitive measures. These five-year tariffs impact automakers such as Geely (18.8%), BYD (17%), and SAIC (35.3%).
China condemned the EU’s tariff decision, with Germany and Hungary voicing concerns, according to Reuters and DW. Beijing has filed a complaint with the WTO in response.
The European Commission claims China’s surplus EV production capacity—estimated at 3 million units annually—is double the size of the EU market. With the US and Canada already imposing 100% tariffs on Chinese EVs, Europe has become the primary destination for these vehicles.
EU Trade Commissioner Valdis Dombrovskis defended the decision, stating, “These proportionate and targeted measures, based on a thorough investigation, protect fair market practices and bolster the European industrial base.”
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Publish date : 2024-12-12 23:08:00
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