Chinese carmakers gear up European production to sidestep tariffs, import quota
Chinese carmakers, facing a European Union import quota targeting their hybrid electric vehicles (EVs), are gearing up for more local production to reinforce their go-global drive. They plan to either splash out billions of yuan to set up their own factories or tap international marquesโ idle plants to build their vehicles, looking to sustain a sales boom in one of the worldโs major automotive markets. โGlobal growth shifts from exporting vehicles to Europe to producing them locally, from...