{"id":60547,"date":"2023-09-13T14:31:19","date_gmt":"2023-09-13T18:31:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/tesla-wins-as-europe-readies-crackdown-on-chinese-evs-nio-xpeng-stocks-plunge\/"},"modified":"2023-09-13T14:31:22","modified_gmt":"2023-09-13T18:31:22","slug":"tesla-wins-as-europe-readies-crackdown-on-chinese-evs-nio-xpeng-stocks-plunge","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60547","title":{"rendered":"Tesla Wins as Europe Readies Crackdown on Chinese EVs. NIO, XPeng Stocks Plunge."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Tesla
\n looks like an indirect winner from European protectionist measures, with the U.S. electric-vehicle maker likely to benefit as regulators prepare to crack down on emerging competition from high-growth Chinese names such as
\n NIO,<\/span><\/p>\n

BYD,<\/span>
\n and
\n XPeng.<\/span>\n <\/p>\n

The European Commission is launching an investigation into electric vehicles coming from China, President Ursula von der Leyen\u2014the head of the executive branch of the European Union\u2014said in a speech Wednesday.<\/p>\n

\n

\u201cGlobal markets are now flooded with cheaper Chinese electric cars. And their price is kept artificially low by huge state subsidies,\u201d von der Leyen\u2019s prepared remarks read. \u201cThis is distorting our market. And as we do not accept this from the inside, we do not accept this from the outside. So I can announce today that the Commission is launching an anti-subsidy investigation into electric vehicles coming from China.\u201d<\/p>\n

The move looks like a bid to shore up legacy car makers at the heart of the European economy, such as
\n Volkswagen
\n (ticker: VOW3.Germany),
\n Mercedes-Benz
\n (MBG.Germany), and
\n Stellantis
\n (STLA). While these groups have made a successful push into electric vehicles, they are under increasing pressure from Chinese brands.<\/p>\n

The single fastest-growing EV manufacturer in Europe is China\u2019s BYD (1211.China), with registrations from January to the end of July up 323% in 2023, according to Matthias Schmidt, the publisher of the European Electric Car Report. Schmidt\u2019s research covers markets representing 95% of the European region\u2019s EV volumes.<\/p>\n

It\u2019s understandable why the EU might want to act. Chinese manufacturers\u2019 registrations ballooned more than 130% year over year in the January to July period, while European peers notched relatively anemic 36% growth. But American manufacturers\u2014not under fire from the EU investigation\u2014recorded a 108% surge in registrations over the same period.<\/p>\n

One name dominates:
\n Tesla
\n (TSLA), which is likely to be an unexpected beneficiary of any material protectionist measures that emerge out of the EU investigation. Tesla\u2019s share in Europe accounted for almost 19% of the market in 2023 as of the end of July, up 129% from its 12% share across the same period in 2022, according to Schmidt. <\/p>\n

The company\u2019s Model Y is, by far, the region\u2019s best selling EV, with 14% annual market share as of the end of July dominating the closest rival, the Volkswagen ID.4, with 5%, per Schmidt\u2019s research.<\/p>\n

Shares in Tesla were up 2% on Wednesday, and European auto stocks also rose. Chinese names were among those in the red, as
\n NIO\u2019s<\/span>
\n U.S.-listed stock fell 3.6% with
\n XPeng
\n shares down 2.2%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla looks like an indirect winner from European protectionist measures, with the U.S. electric-vehicle maker likely to benefit as regulators prepare to crack down on emerging competition from high-growth Chinese names such as NIO, BYD, and XPeng. The European Commission is launching an investigation into electric vehicles coming from China, President Ursula von der Leyen\u2014the […]<\/p>\n","protected":false},"author":1,"featured_media":60548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-60547","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nTesla Wins as Europe Readies Crackdown on Chinese EVs. 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