China car companies such as BYD, MG, Geely Holding and Great Wall have occupied a place in the UK market, while Chery Automobile also announced that it will release two new trams and build 60 sales centers in the UK in 2024, which shows that China car companies are fully deploying the UK market.
This layout coincides with the right time, and the British electric vehicle market is in a critical period. According to the data of the British Automobile Manufacturers and Traders Association (SMMT), the number of registered electric vehicles in the UK exceeded 1 million for the first time, and the growth of electric vehicles was particularly obvious in 2023, showing the strong demand for electric vehicles in the UK market.
In terms of policy, the British government’s support for electric vehicles is also constantly strengthening, including the financial support of 4.5 billion pounds announced by the Chancellor of the Exchequer and the active follow-up of private investment, which has created a good external environment for the development of electric vehicles.
In the British market, although China car companies started later than American, Korean and German brands, they grew rapidly. In 2023, SAIC MG and Geely Holding Polestar 2 entered the top ten sales of electric vehicles in the UK, showing the competitiveness of China brands.
Taking advantage of the historical advantages of its British brand, MG has achieved good market response in terms of price and brand influence. Byd, on the other hand, has rapidly expanded its market share by cooperating with local British enterprises, especially in the field of electric buses.
The “electric storm” of China car companies in the UK market is not only a commercial competition, but also a cultural and technical exchange under the background of electric transformation. It indicates a major change in the global automobile market competition pattern, and China brand will become a key force leading the global electric vehicle trend in the near future.
Post time: Mar-13-2024