Overview
- BYD plans a second European factory, despite the EV market slowdown and potential tariffs.
- Nio's CEO criticizes the proposed tariffs as detrimental to global sustainable development.
- European automakers fear retaliation from China, which could impact their profits and market share.
- Chinese EVs are gaining traction in Europe, expected to reach 10% market share by 2025.
- The EU's decision could affect its 2035 targets for phasing out internal combustion engines.