China Auto Roundup: EU Tariff Roadblock Has Chinese EV-Makers Preparing to Swerve, BYD Sales Roar to a Record

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Visitors to the 45th Bangkok Auto Show check out a BYD Sealion electric car on March 26. Photo: VCG

Welcome to the Auto Roundup — a weekly briefing on the biggest headlines in China’s automotive industry covering electric vehicles, gas-powered cars, battery and autonomous technology, and more.

EU tariff roadblock has Chinese EV-makers preparing to swerve

The global shift toward electrification that propelled Chinese electric-vehicle (EV) makers on their global expansion now has them bracing for impact in Europe.

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The EU is imposing up to 38.1% tariffs on Chinese EVs, prompting Chinese automakers to consider relocating factories to Europe.
BYD set a sales record with nearly 1 million electric and hybrid cars sold in Q2, driven by price cuts and new technology.
Sales of new energy-powered heavy-duty trucks in China surged 139% year-on-year in the first five months of 2024.

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Who’s Who

BYD Co. Ltd.: BYD Co. Ltd. sold nearly 1 million electric and hybrid cars in Q2, achieving a record due to price cuts and new technology. The first batch of plug-in hybrids from their Uzbek plant has rolled off the assembly line, with an initial annual capacity of 50,000 units. This plant, part of a joint venture with Uzavtosanoat JSC, will produce two hybrid models, including the BYD Song Plus DM-i SUV and the BYD Chazor.

Contemporary Amperex Technology Co. Ltd.: Contemporary Amperex Technology Co. Ltd. (CATL) is a leading battery manufacturer. Its Chairman, Zeng Yuqun, suggested at the 15th Summer Davos that EV battery production capacity should be proportionally distributed: 40% for China, 30% for Europe and the U.S., and 30% for battery material suppliers. He advocated this approach as an alternative to tariffs, aiming to capitalize on China’s technological edge and investment efficiency.

Gaogong Industry Institute Co. Ltd.: Gaogong Industry Institute Co. Ltd. (GGII) reported that sales of new energy-powered heavy-duty trucks surged 139% year-on-year in the first five months of 2024. A total of 20,776 new-energy heavy trucks were sold in China, including 19,700 pure electric vehicles, 976 fuel cell trucks, and 100 plug-in hybrid trucks.

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What Happened When

January to May 2024：: Sales of new energy-powered heavy-duty trucks surged 139% year-on-year.

Thursday, June 29, 2024：: The first batch of plug-in hybrids rolled off the assembly line at BYD’s new plant in Uzbekistan.

Saturday, July 1, 2024：: China and the EU agreed to start consultations on the issue of EV tariffs.

By July 4, 2024：: The European Commission announced its decision to impose extra tariffs of up to 38.1% on battery-electric vehicles shipped from China.

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