A recent survey conducted by the electric vehicle market research firm Rho Motion reveals that Chinese automakers, including BYD and Chirey, are selling more plug-in hybrid vehicles in Europe to avoid tariffs imposed on electric vehicles from China. According to a report by Reuters, Rho Motion reported on Friday, May 2, that BYD and Chirey sold 3,269 and 757 plug-in hybrid vehicles in Europe respectively in March of this year, marking a significant increase from near-zero sales following the introduction of temporary tariffs in July of last year.
In November, the European Union imposed tariffs of up to 45.3% on Chinese-made pure electric vehicles to prevent an influx of inexpensive cars into the European market. In response to new tariff policies in the United States, the EU and China have been negotiating to ease tariffs on Chinese electric vehicles in Europe.
At the same time, companies like BYD and Leap Motor are adjusting their strategies to align with European tariff policies and the slower-than-expected adoption of pure electric vehicles in the European market. On April 29, BYD announced plans to launch two additional plug-in hybrid models in Germany this year.
The report indicates that BYD’s pure electric vehicles are subject to a 27.5% tariff in Europe, while plug-in hybrid vehicles face a 10% tariff. This results in a price of €10,257 (approximately S$15,166) for a BYD Atto 3 pure electric vehicle in Germany, compared to €3,999 for the BYD Seal U plug-in hybrid.
In March, BYD’s sales of pure electric vehicles in Europe more than doubled year-on-year, reaching 4,633 units, while sales of its plug-in hybrid vehicles surged from zero to 3,269 units. Chirey, on the other hand, faces a 21.3% tariff on its pure electric vehicles, with March sales totaling 310 units for pure electric and 757 units for plug-in hybrids.
The SAIC Group’s pure electric vehicles in Europe face the highest tariffs at 35.3%. The report notes that the increase in sales of SAIC’s plug-in hybrid vehicles is not as substantial as that of the aforementioned companies.
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