800,000 Chinese-made vehicles expected to export to Europe in 2025: PwC
Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020.(Xinhua/Ding Ting)
The sales of Chinese-made vehicles in Europe market are expected to reach 800,000 units by 2025, most of which will be pure electric vehicles, said the global auditing and consulting firm PwC in a report, reported China Securities Journal Thursday.
PwC noted that Europe is expected to become a net importer of vehicles by 2025, with an import surplus of more than 220,000 units.
The shift has been driven by the growing market share of Chinese brands and an increase in the share of European brands producing electric vehicles in China.
PwC estimates that about 330,000 of the potential 800,000 vehicles will come from multinational auto companies such as Tesla, BMW and Renault.