financetom
Business
financetom
/
Business
/
Chinese share of French EV market slumps after incentives curbed
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chinese share of French EV market slumps after incentives curbed
May 3, 2024 5:30 AM

PARIS, May 3 (Reuters) - Sales of the three most popular

Chinese-made electric vehicles in France have collapsed since

the government made them ineligible for cash purchased

incentives, industry data analysed by Reuters shows.

A surge in imports of Chinese electric cars into Europe has

triggered EU tariff threats, which are expected to be a bone of

contention when President Emmanuel Macron hosts his Chinese

counterpart for a state visit on Monday.

France, however, did not wait for a European Union decision

on implementing tariffs, instead redesigning its cash bonus

scheme in December to exclude the purchase of models made in

China, which have rapidly gained market share.

In the months ahead of the move, the three most popular

Chinese-made cars sold in France - the Dacia Spring (Renault

), Tesla's Model 3 and SAIC's MG4

- accounted for 22% of the market, according to Reuters

calculations using data from the companies and industry body AAA

Data.

Their share then surged to 32% in December ahead of the new

eligibility rules that require vehicles to meet criteria

covering how much carbon is emitted during the manufacturing

process and transport to market, favouring vehicles made in

Europe.

The three models' share of the market has since steadily

declined to just 4% in April, a drop hailed by Finance Minister

Bruno Le Maire as a sign the more restrictive eligibility rules

are working.

The French government has been eager to give domestic

carmakers time to come out with their own EV models and catch up

with Chinese makers that moved early to build up huge production

capacity.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved