[ad_1]
European ports have accused Chinese carmakers of using them as “parking lots” for excess inventory.
April 13, 2024 in 4:00 PM ET
A logistical nightmare is unfolding at Europe’s ports and transport terminals.
Chinese-made electric vehicles are piling up at some of Europe’s busiest ports, including Belgium’s Antwerp-Bruges and Germany’s Bremerhaven, as automakers and dealers struggle to secure front-line transport. It has become.
China is the world’s largest EV market.
The country wants to electrify the world with its expertise in cutting-edge battery technology and a range of feature-rich new models. But there are growing concerns that China’s EV manufacturing capacity far exceeds the global demand it is trying to meet.
Several factors are turning these ports into “parking lots” as Chinese EV imports flood the European market. financial times It was reported yesterday.
Lack of logistics appears to be part of the problem. Once these EVs are unloaded at shipping terminals in Europe, Chinese OEMs struggle to find truck drivers and commercial transportation to move them to dealer sites, the report said.
“Inland transport in the European market is difficult [for Chinese EVs]” said Cui Dongxiu, secretary general of the China Passenger Car Association. Another source FT spoke to said the problem was partly due to Tesla having a large number of trucks reserved.
This news comes as Chinese automakers such as BYD, SAIC, Great Wall Motors, and Chery Automobile are moving abroad, especially in Europe and South America, as demand for EVs in the domestic market is sluggish and demand in the manufacturing industry is sluggish. The announcement was made while the company was looking to expand into the . Capacity is rapidly increasing.
About two weeks ago, U.S. Treasury Secretary Janet Yellen traveled to Beijing to meet with Chinese officials and voiced concerns about the country’s industrial overcapacity.
Yellen did not announce additional tariffs, but said China’s “increasing negative spillovers” posed “significant risks” to workers and businesses in the United States and around the world.
About a week later, China’s Minister of Commerce Wang Wentao vehemently denied these concerns at a summit in Paris.
Wentao organized the summit with the aim of “deepening practical cooperation in the electric vehicle industry between China and Europe,” and members of BYD, SAIC, CATL, and Geely also attended.
He added that accusations of “overcapacity” were “baseless.”
[ad_2]
Source link
