The competition among electric car companies in China is fierce, does AIWAYS choose to go overseas for survival?
AshleyMay 17, 2024, 11:24 AM
On May 15, Chinese brand AIWAYS, affected by the price reduction of domestic Chinese brands and joint venture brands, plans to withdraw from the Chinese market and instead move to the European market.
About the choice to leave the Chinese market, an insider at AIWAYS revealed: "Due to the pricing pressure and intense competition in the Chinese market, we do not plan to stay in the Chinese market." AIWAYS CEO Fu Qiang also stated that the overseas new energy market is not as competitive as China, and the acceptance level of electrification is higher, so the overseas market is seen as the main focus.
Since the beginning of this year, Chinese car brands have started to reduce prices frequently, including BYD, Wuling Motors, and Li Auto, etc. The highly popular Xiaomi SU7 in China this year also stated that it was affected by the price reduction and lowered the price of the new car before the launch. Not only Chinese car brands are affected by this, Tesla also stated in this year's Q1 financial report conference call that it will cater to the current consumer market and launch more cost-effective models.
AIWAYS has long been planning to shift to the European market. In January 2023, the official statement said that its related models had passed the EU "RRR" environmental protection regulation certification and passed the German Rhine TÜV group's re-examination all at once. At the same time, the related models of ALWAYS meet the requirements of EU REACH/POPS/CLP/BPR and other regulations, avoiding the regulatory risk of environmental protection materials for exporting to the EU region. Although focused on the European market, the sales volume is not very impressive. From the first batch of models officially exported in May 2020 to the end of 2022, the overseas sales of it are only 6,264 units.
Facing the fierce competition in the Chinese electric vehicle market, selling abroad is the choice of young brand AIWAYS. AIWAYS was established in 2017, and its founder Fu Qiang having served as senior executive in companies like Mercedes-Benz, Audi, and Volvo. The company has received investment from companies like CATL, DIDI, with a total financing amount exceeding 10 billion RMB.
If any infringement occurs, please contact us for deletion
Trending News
The all-new Lexus ES announces pre-sale on March 20: Say goodbye to pure gasoline engines and launch a pure electric version
Lexus's bestseller sedan, the ES, ushers in a major overhaul, officially confirmed to start pre-sales on March 20. The new car has not only undergone significant size extensions based on the GA-K platform but has also made a complete transformation in its powertrain logic — abandoning purely fuel-powered engines in favor of the ES 300h hybrid and the brand-new ES 350e/500e fully electric versions, officially joining the luxury electric sedan market competition.
The Lexus ES 200: Laughed Out of Existence
With the official debut of the eighth-generation Lexus ES in the global market, we quickly realized that the once entry-level model ES 200 has completely disappeared. Now only the ES 350h, ES 350e, and ES 500e remain, and for this reason, the Lexus ES 200 was launched with a two-tone body in the Chinese market as a commemorative edition.
Toyota recalls over 3 million vehicles worldwide, including Camry, Land Cruiser, and Lexus
According to the latest news, Toyota has officially launched a large-scale global recall involving approximately 3.3 million vehicles due to a defect in the reverse assist system software, which may cause the screen to freeze at critical moments.
Before buying the Chery Omoda 5, you must know some issues
Chery Omoda 5, as a key model for the Chinese brand Chery to enter Malaysia's B-Segment SUV market, has attracted considerable attention since its launch with its impressive features, enticing warranty policies, and market promotions. However, despite the hype, various issues reported by real owners are gradually emerging.
Toyota Land Cruiser FJ confirmed to launch in Thailand on March 21, expected to start from RM137k
For those obsessed with the rugged DNA of the Land Cruiser but deterred by the high price tags of the 300 Series or 250 Series, this compact off-road vehicle built on the IMV 0 platform is undoubtedly the most anticipated surprise of the year.
Popular Cars
Model Year
Car Compare
Car Photo