STORY: Chinese-made EVs to take 25 pct of EU market in 2024: study
SHOOTING TIME: April 11, 2024 / May 2023
DATELINE: April 12, 2024
LENGTH: 00:00:56
LOCATION: BARCELONA, Spain
CATEGORY: ECONOMY

SHOTLIST:
1. various of Chinese car brands at the Automobile Barcelona show (May 2023)
2. various of a Chinese car dealership
3. SOUNDBITE (Spanish): RAUL JARAMILLO, Brand and marketing manager for Kngloo Spain
4. various of the headquarters of the European Union in Brussels

STORYLINE:

Chinese-made electric cars will capture a quarter of the EU market in 2024, up from 19.5 percent in 2023, Europe's clean transport campaign group Transport and Environment (T&E) said in a recent study.
   
T&E projects that Chinese brands could reach 11 percent of the EU's EV market in 2024 and 20 percent in 2027.

Raul Jaramillo, brand and marketing manager for Kngloo Spain, said that to break into the European market, Chinese car brands need to quickly establish a wide network of distributors that "can provide the brand with high-quality customer support."

Kngloo, a brand that is new to the Spanish and European markets, was launched in Spain last year. The company sells Chinese-built electric cars in Europe.

SOUNDBITE (Spanish): RAUL JARAMILLO, Brand and marketing manager for Kngloo Spain
"On a strategic level, we need to continue opening sales points in Europe that will allow us to continue expanding and take these brands to other countries. In our case, we're beginning with Spain to expand into Europe, and also in the future to Latin America and Africa."

The growth in sales of Chinese-made electric cars in the EU is set to continue as more brands from China take steps to quickly expand across the bloc.
   
On March 5, the European Commission announced that imports of Chinese electric vehicles into the EU grew by 14 percent between October 2023 and January 2024, amounting to almost 200,000 vehicles.

A recent study by the PwC global consultancy predicted that by 2025, up to 800,000 Chinese-built cars could be sold in Europe.

Xinhua News Agency correspondents reporting from Barcelona, Spain.
(XHTV)