Chinese EV Manufacturers BYD And Geely Storm Frankfurt Fair As EU Tariffs Threaten To Crimp Their Global EV Push: Report – BYD (OTC:BYDDY)

At a trade fair in Frankfurt, almost 900 Chinese auto suppliers and several electric vehicle makers are reportedly displaying their offerings.

The country’s automotive sector is striving to enhance its global presence and counteract declining domestic profits despite looming trade barriers, reported Reuters.

Chinese automakers such as BYD Co., Ltd. BYDDY, Geely Automobile Holdings Ltd. GELYF, Hongqi, and GAC International are set to showcase their vehicles at the Automechanika fair, which traditionally emphasizes suppliers but is now featuring cars as a highlight.

Also Read: US Ally Urges EU To ‘Reconsider’ Tariffs On Chinese EVs: ‘We Don’t Need Another War’

“Even if some in Europe turn against us, we will never turn against the European market,” said Victor Yang, senior vice-president at Geely, the only carmaker to host a press conference at the fair.

According to the report, Geely, which reportedly sold approximately 200,000 cars in Europe during the first half of this year, will encounter tariffs of up to 19.3% on its China-made EVs under the European Commission’s current plans—a move the company has previously called “disappointing.”

China’s auto sector is making significant investments in expanding overseas despite Europe and North America imposing trade barriers to curb the influx of China-made EVs, which they claim benefit from unfair subsidies.

The “EV Expo,” opening in collaboration with the China Council for the Promotion of International Trade, adds a focus on electric vehicles to an event traditionally centered on suppliers, Reuters added.

Image via Shutterstock

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.