State-owned carmaker GAC Group plans to establish factories in Europe to counter the impact of tariffs on Chinese-made electric vehicles (EVs).
Wei Haigang, GAC International’s general manager, stated that expansion into Europe is crucial for the company’s growth strategy, aiming to introduce a large number of electric cars into the European market next year.
Wei mentioned plans to localize production in Europe, awaiting substantial demand to finalize the decision, emphasizing GAC’s focus on international business.
Despite reports of Beijing advising against investing in the EU during tariff negotiations, Wei expressed GAC’s commitment to the European market, even facing additional tariffs on Chinese-made EVs.
In a strategic move, GAC Group aims to combat tariff challenges by setting up factories in Europe, as part of its growth strategy to introduce electric vehicles to the European market. While facing uncertainties related to Beijing’s stance on EU investments, GAC remains determined to expand internationally. This move not only signifies GAC’s resilience but also highlights its dedication to tapping into new markets despite obstacles.
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