FRANKFURT, Germany — Europe is leading the push into battery-powered cars as electric vehicles enter the mainstream — even as the industry faces challenges including supply shortages, a spotty charging network and a looming recession.
People are also reading… Gains have come because of regulatory pressure, tax breaks, improving battery range, and a wider range of vehicles to purchase. Uptake has been slower in China, where the higher cost of producing electric cars leave them beyond the purchasing power of many consumers despite government incentives. Battery and hybrid cars were 13.8% of the market for all of 2021. In the U.S., regulatory pressure from government emissions requirements has waxed or waned depending on whether a Republican or a Democrat is in the White House. The electric share was around 4.5% in 2021.
It has been shortened to six days instead of 11 and is missing major automakers such as Volkswagen and BMW from Germany. Instead, the focus is on the French home team: Stellantis' Peugeot, DS and Jeep brands and competitor Renault. BYD offers the Atto 3, a five-seat, midsize SUV"with European customers in mind." The company says the design fuses European and Chinese culture through"dragon face" design language in which headlights and horizontal grill bar symbolize a dragon's eyes and moustache. The interior features"gym-inspired" design such as barbell door handles and a kettlebell-shaped gear selector. Seats and headrests are of vegan leather.
Things have changed since an unsuccessful attempt to enter the European market 15 years ago, said Stefan Bratzel, director of the Center of Automotive Management in Bergisch Gladbach, Germany. Now, they are making a second attempt"which seems much more promising." But he cautioned that breaking into the highly competitive European market would take time.
"Nobody knows us in Europe, so we want to give confidence in our products," said Jean-Christophe Mercier, deputy CEO of VinFast Europe. "That will be over in 2023," he said."Then it's the customers who will be scarce" and price discounts will come back. He predicts overall sales to dip to 10.8 million in Europe, down from 11 million this year and well below the pre-pandemic peak of 15.8 million.
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