In April 2024, Chinese-branded vehicles sold 38,281 units in the European market, with electric vehicle (EV) sales from companies like BYD and Chery more than doubling year-on-year. That month, Chinese automakers captured over 15% of Europe’s EV market for the first time, accounting for nearly 10% of the entire European automotive market. Beyond battery-electric vehicles, Chinese brands also performed strongly in the plug-in hybrid electric vehicle (PHEV) segment, capturing nearly 29% of the European PHEV market in April. Compared to monthly sales of only a few thousand units in 2021, Chinese automakers have significantly accelerated their growth in Europe. To reduce operational costs and enhance local supply capabilities, some Chinese automakers are advancing localized production in Europe. BYD has already begun constructing a factory within the EU and is exploring options to take over or share idle local production capacity. Additionally, Stellantis Group has entered into partnerships with Chinese companies such as Leapmotor and Dongfeng Motor, including arrangements for shared manufacturing facilities. Chinese-branded vehicles are generally priced lower than those of local competitors in Europe and offer certain technological advantages in areas like intelligent features, attracting cost-conscious consumers seeking value for money.