On October 15, the Financial Times reported that at the recently opened Paris Motor Show, Chinese automakers stated that they are not aiming to "overthrow" established European automakers by offering cheaper electric vehicles. This statement was made to ease concerns among European competitors regarding the aggressive international expansion of Chinese automakers.
Currently, several well-known Chinese automakers, including Xpeng Motors and GAC Group, are participating in the biennial Paris Motor Show. In response to the EU's additional tariffs on Chinese electric vehicles and the warning by Stellantis CEO Carlos Tavares about a "Chinese invasion" of the European market, Chinese automakers reiterated their long-term commitment to Europe.
Xpeng Motors Co-President, Gu Hongdi, said: "Xpeng is a 10-year-old company. We are not here to overthrow companies that have been around for over 100 years." Xpeng showcased an electric sedan equipped with highly advanced artificial intelligence technology at the Paris Motor Show. Gu Hongdi added that Xpeng aims to position itself as a "high-end electric vehicle" provider in Europe. While Xpeng may consider launching a more compact economy car in the future, Gu made it clear that "we don't want to compete on price, that's not our goal."
Gu also revealed that Xpeng reached an agreement with Volkswagen to develop two electric vehicles this year and expressed willingness for further collaboration with Volkswagen in the future. This demonstrates the cooperative approach Chinese automakers are taking toward the international market.
GAC Group is also making active strides into the European market. Feng Xingya, general manager of GAC Group, also adopted a cooperative tone when discussing the economic benefits of entering Europe, emphasizing the company's willingness to eventually collaborate with European suppliers. "When we enter the European market, we do so with a spirit of cooperation. We hope to work with partners across the industrial chain while meeting the needs of European consumers," said Feng.
The Financial Times pointed out that these conciliatory remarks from Chinese automakers at the Paris Motor Show reflect the concerns within the European auto industry about the rise of Chinese electric vehicles. Earlier this month, EU member states decided to impose additional tariffs of up to 35% on Chinese electric vehicles, despite opposition. At the same time, local European automakers such as Volkswagen and Stellantis have issued a series of profit warnings, casting uncertainty over the future of their European factories.