Robert Besser
24 Nov 2022, 11:36 GMT+10
BEIJING, China: Chinese electric vehicle (EV) makers aim to win over European drivers and large corporate customers with more affordable cars, which are in line with the highest safety standards and have many high-tech features.
Several Chinese EVs have received five-star European New Car Assessment Programme (NCAP) ratings, which require equipping vehicles with active and passive safety features that are above legal requirements.
"All Chinese EV makers want to achieve Euro NCAP five-star ratings in order to be more competitive in the European market," said Brian Gu, president of Chinese EV maker Xpeng, as quoted by Reuters.
Chinese EV makers have recognized that safety is important to sales, said Matthew Avery, director at Thatcham Research, a British car research centre funded by insurers and a Euro NCAP board member.
"Fleet sales are very important and a lot of fleets have a mandatory five-star rating for buying cars," Avery said, according to Reuters.
To meet sustainability goals, many fleets want to switch to EVs as soon as possible, but as supply chain issues have pushed waiting times for some models to more than 12 months, corporate fleets have struggled to deliver enough EVs to Europe.
Supply chain shortages and high demand have allowed European carmakers to raise EV prices and focus more on retail clients, rather than customers that have traditionally been less profitable, such as car rental firms.
This has created opportunities for Chinese EV makers, which have progressed faster than most foreign rivals in China, by far the world's largest EV market.
French auto consultancy Inovev said that some 155,000 Chinese-made cars were sold in Europe in the first nine months of 2022, or 1.4 percent of the market, with Chinese firms being on track to hit 150,000 cars this year, some double the 80,000 sold in 2021.
According to Inovev, by 2030 EVs will account for 40 percent of Europe's new car sales, and Chinese brands will represent between 12.5 percent to 20 percent of that fully-electric market, with sales of between 725,000 and 1.16 million.
Get a daily dose of Tuscaloosa Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Tuscaloosa Times.
More InformationPARIS, France: Amid the imminent launch of the iPhone 15, unions representing Apple store workers in France have called for ...
SEATTLE, Washington: To expand its next-day delivery services for shoppers, Amazon said it plans to hire 250,000 more U.S. workers ...
NEW YORK, New York - U.S. stocks weakened on Friday as U.S. Treasury yields continued to point higher while some ...
DUBAI, UAE - The bustling real estate market in Dubai has surged to unprecedented heights, reporting transactions valued at over ...
SHANGHAI, China: A survey published this week by the American Chamber of Commerce (AmCham) in Shanghai showed that political tensions ...
DAYTON, Ohio: Under an agreement announced this week, Joby Aviation will produce state-of-the-art electric vertical takeoff and landing (eVTOL) aircraft ...
MONTGOMERY, Alabama: Last week, Alabama's school chief, Superintendent Eric Mackey, said that under new reading benchmarks to move to fourth ...
(Photo credit: Steven Bisig-USA TODAY Sports) The Cincinnati Bengals are listing Joe Burrow as questionable for Monday night and adding ...
(Photo credit: Steven Bisig-USA TODAY Sports) Former Cincinnati Bengals quarterback A.J. McCarron worked out for his former team Saturday, multiple ...
(Photo credit: Steven Bisig-USA TODAY Sports) Former Cincinnati Bengals quarterback A.J. McCarron worked out for his former team Saturday, multiple ...
WASHINGTON - The Senate on Wednesday confirmed Gen. Charles Q. Brown Jr. as the next chairman of the Joint Chiefs ...
(Photo credit: Bryan Terry-USA TODAY Sports) Oklahoma State and Iowa State head into Saturday's Big 12 opener for both teams ...