Munich Auto Show 2023: Chinese Carmakers Redefine Luxury EVs
The Munich International Auto Show highlighted the rising influence of Chinese automakers in the European electric vehicle (EV) market, particularly within the luxury segment. Historically learning from Western counterparts, Chinese manufacturers have strategically invested in battery technology, positioning themselves as global leaders. With Europe’s stringent emission regulations and an impending petrol/diesel ban by 2035, Chinese automakers view the continent as a prime market. They’re now directly challenging established European luxury brands, capturing increasing market shares. In response, European manufacturers are adopting diverse strategies, from advocating for protective policies to forging alliances with Chinese counterparts, navigating a transformative automotive landscape.