Chinese marques in driving seat as high petrol prices accelerate EU shift to electric cars

Chinese carmakers have gained ground in Europe’s shift to electric cars, emerging as the biggest winners in plug-in hybrids despite moves by Brussels to curb their expansion.

As petrol prices climbed across the EU, hitting a record high of more than €2.30 a litre (US$9.91 a US gallon) in Germany this month, the move to battery power gathered pace. Battery-electric registrations jumped 62.7 per cent year on year in August and accounted for 21.7 per cent of new registrations in the first eight months of the year – equal with petrol-powered cars – according to data published by the European Automobile Manufacturers’ Association (ACEA) on Thursday.

Chinese carmakers took almost all of the new volume. The European Union market grew by 30,720 vehicles in August, a year-on-year increase of 4.5 per cent, with BYD, Chery, Leapmotor and SAIC accounting for about 92 per cent of the net increase, based on ACEA figures. BYD’s registrations more than doubled to 20,845, while Chery’s tripled to about 14,000.