Greece is outside the Chinese investment plans in Europe


Two Chinese car manufacturers are investing in Europe, but Greece is not among them.

The European car market is the bone of contention for all the major powers of the global automotive industry, and among them, the Chinese seem determined to make a big landing on the continent with exports and the production of cars.

Following BYD's choice of Hungary, Chinese car giant Chery is set to make its mark on the European automotive landscape by setting up production plants in the UK and continental Europe, targeting the electric vehicle market.

Despite the turbulent aftermath of Brexit and uncertainties plaguing the car industry, Chery aims to emulate Hyundai and Kia's successes, envisioning a future that starts with the UK market first.

Victor Zhang, head of Chery in the UK, has outlined plans that mirror the success of these Korean carmakers, aiming to capture a significant share of UK car sales.

Amid Honda's exit from the UK in 2022 and BYD's decision to skip setting up a UK plant due to Brexit-related concerns and ultimately opt for Hungary, Chery remains undeterred.

Zhang sees the significant size of the UK market, with around 2 million annual new car purchases, as a catalyst, justifying the creation of a separate manufacturing hub.

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The proposed UK plant aims to produce right-hand drive vehicles catering to the UK, Northern Ireland, South Africa, Australia and New Zealand markets.

At the same time, a second production facility is planned in continental Europe to manufacture left-hand drive cars for the mainland.

Chery's imminent entry into the European market coincides with the debut of Omada-branded mass-market vehicles in the UK this spring, followed by the premium Jaecoo range.

Despite the EU's investigation into China's state carmaker subsidies, Zhang assures that Chery's goal is not solely about low prices. It emphasises the company's commitment to providing high-quality products accompanied by a strong brand identity.

Note that we are still at the beginning of a Chinese invasion with opportunities for European countries to create production units that will greatly benefit their GDP since exporting helps the economy of each country that has the unit.

As News Auto noted, Greece is still not in these plans.

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