Chinese Automaker Geely Hits EU Market
Chinese automaker Geely Auto Group entered the EU market by signing an agreement with Hungary’s Grand Automotive Central Europe (GACE) on November 4. Under the arrangement, GACE will distribute Geely’s Geometry C, a premium electric car model, in Hungary, Czechia and Slovakia via dealers in its network. The first Geely cars are expected to be sold in these three countries in the first half of 2023, marking the firm’s entrance to the EU market.
Geely’s globalization process is accelerating. On November 1, Zeekr, a high-end EV brand under Geely, launched its second model, the Zeekr 009 MPV. An Conghui, CEO of Zeekr Technology, said that this marque will accelerate the process of going overseas.
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An stated that the Zeekr 001 will enter the European market next year, and that the company will announce its plan in late November for becoming a global brand. Fortunately for the firm, Zeekr considered European and US standards at the beginning of product R&D.
In the past two years, with the strong rise of Chinese NEV brands, the export of NEVs has shown a spurt of growth, entering the European market in a big way. According to statistics by the China Association of Automotive Manufacturers (CAAM), nearly 10 Chinese car companies have exported NEVs to Europe, and Chinese NEVs have accounted for 10% of their total sales in the region.
As for traditional Chinese car companies, on September 28, BYD launched three models including the Han, Tang and Yuan Plus for the European market, and started delivery in many European countries. It also announced at the Paris Auto Show in October that it would cooperate with Shell to provide a better charging experience for BYD car owners in Europe, including opening up the right to use about 300,000 Shell charging piles on the continent.
In terms of the new generation of Chinese automakers, NIO announced in October that its three latest models – the ET7, EL7 and ET5 – will be available in Germany, the Netherlands, Denmark and Sweden. As early as July, NIO also established an innovation center in Berlin for the R&D of intelligent cockpits, autonomous automated driving and energy technology research. In addition, NIO said that it will continue to increase R&D investment in Europe.
According to data by the CAAM, from January to September this year, the cumulative export volume of Chinese automobiles was 2.117 million, up 55.5% year-on-year. Among them, 389,000 NEVs were exported, more than doubling year-on-year.