SAIC's MG electric car. MG has already notched up big sales in Europe. “We see BEVs from Chinese accounting for one in ten of new BEV cars sold across Western Europe during 2023. This could reach 12.5% in 2030,” Schmidt said.
“We are seeing Chinese vehicles priced at £25,000 competing with similar European vehicles priced between £40,000 and £50,000 and this is going to be carnage for Europe’s auto industry. There will be very strong pressure for tariff or other protections,” Molden said in an interview. ACEA welcomed the EU Commission’s Green Deal Industry Plan , which would help keep automotive investment in the EU. The IRA is expected to tempt much global investment in batteries and electric cars to the U.S.
“But it was Europe initiating this ICE ban that in part led to the U.S. reaction. Europe doesn’t have the minerals or refining capacity and not enough green electricity yet. Europe is caught in the middle between China and America and the likely results will be a much smaller European car industry,” Molden said., has a more relaxed view of the China threat, which has to beat the 10% EU import tariff.