Europe’s new EV power struggle sees Chinese giants seize record market share

Leading Chinese carmakers and an aggressive Tesla together command more than 13% of western Europe’s surging EV market Chinese electric vehicle (EV) makers and Tesla are locked in a tug of war across western Europe, taking advantage of rising consumer demand for battery-powered vehicles as volatile oil prices drive buyers away from traditional models. “Tesla’s aggressive push from 2026, with prices falling to just above €30,000 (US$34,522) across many regional markets, has prevented a further fall for US brands,” analysts at Schmidt said in a report last week. Tesla’s price cuts coincide with a broader push by Chinese carmakers to expand overseas. Facing sluggish demand at home and trade barriers imposed by the United States, they have increasingly targeted Europe as a major growth market. BYD, China’s market leader, launched two luxury models in Europe in April and July under its Denza brand and aims to build 3,000 “flash-charging” stations across the region by March next year. It secured a market share of 2.8 per cent after delivering 91,500 units in the second quarter, surpassing Tesla and the historic British brand MG, which is now owned by China’s state-owned SAIC Motor, according to Schmidt.

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