20 Chinese Carmakers Target Europe at Paris Show as Xpeng Sets 500,000 Sales Goal
Updated
Updated · The New York Times · Oct 15
20 Chinese Carmakers Target Europe at Paris Show as Xpeng Sets 500,000 Sales Goal
3 articles · Updated · The New York Times · Oct 15
Summary
More than 20 Chinese brands dominated the Paris Motor Show, using the event to court European buyers, partners and sponsors after being peripheral players there two decades ago.
Chinese automakers are accelerating in Europe because they are largely shut out of the U.S., face weak demand at home and want local production in place before tougher European trade barriers bite.
Xpeng outlined that strategy most clearly, saying it will localize manufacturing in Europe and target about 500,000 vehicle sales a year in the region by 2030.
Brands also tailored their pitch to local tastes: Geely unveiled a hybrid SUV billed as “born for Europe,” while GAC and BYD highlighted football sponsorships with Chelsea and Paris St.-Germain.