MG Boost Chinese Car Presence in Europe

MG presented its fourth electric vehicle for the car market in Europe, as the Chinese automobile companies accelerate efforts to use zero-emission cars to gain ground in Europe. The MG4 is a fully-electric sedan with a range of around 450 kilometers and a competitive list price of 28,990 euros before any incentives from the government.

While Chinese automobile companies have not tried to crack the market in Europe with traditional combustion engine vehicles, and they are slowly exploiting their advantage in the electric cars. The Chinese car producer Geely that owns Volvo, is using Polestar to enter the market with electric vehicles in Europe.

Jamel Taganza, vice president of the Inovev consultancy, said Chinese automobile companies abandoned developing internal combustion vehicles because they realised that they will not be able to close the technological gap with the US, European, and the US automobile companies.

Chinese automobile companies sold 80,000 vehicles in Europe in 2021, and that is expected to double in 2022 to 150,000. With Chinese automobile companies being on the front of battery development is also an addition for the automobile companies.

Entry of Chinese automobile companies into Europe also comes at a time of high economic uncertainty as Europe faces an energy crisis and rising inflation, but it also gives them a chance to start learning about the European car market.