A relatively unknown firm called Aiways is set to become the first Chinese company to sell its electric vehicles in Europe. The Shanghai-based electric vehicle manufacturer announced that it will be selling its flagship model, called the Aiways U5, starting next year.
The company announced plans to open up various dealerships around Europe next year. This includes dealerships in Germany, Norway, the Netherlands, France, and Switzerland. The Chinese firm first unveiled its fully electric sports utility vehicle (SUV) in March of this year. The vehicle was marketed as a "smart SUV" that sported high-tech features such as onboard facial recognition and even systems that recognize passengers' emotional states.
Despite having just received its manufacturing license from the Chinese government, Aiways has set massive goals for its expansion into overseas markets. The company is particularly interested in penetrating the European market, something that most Chinese electric carmakers have yet to accomplish.
Major Chinese automotive manufacturers such as SAIC Motor, Chery, Geely, and BYD Auto have been trying to penetrate electric vehicle markets abroad for quite some time now. However, most have been unsuccessful in their efforts overseas mainly due to a lack of brand recognition and because of foreign competitors such as Tesla. Elon Musk's electric vehicle company has so far dominated markets outside of China, despite the various issues that have plagued its production and deliveries.
Some critics of the firm have argued that Aiways will likely need to prove its worth in the domestic market first before it undertakes other markets abroad. China is currently one of the biggest markets for electric and hybrid vehicles, sometimes called new energy vehicles locally. The country had recently ramped up its efforts to entice electric automakers with various subsidies and policies that fully support the transition from fossil fuel-powered transportation.
With continuous support from the government and the private sector, appetite for electric vehicles in China has grown substantially. This has led to a boom in the industry, leading to the establishment of different manufacturing firms and brands.
Chinese electric startups such as Byton and Nio have become quite successful domestically, with sales and preorders continually climbing for their different offerings. The different companies' offerings have also caught global attention. Some analysts predict that China could very well overtake its western counterparts in the coming years.
Chinese tech giants have recently gotten into the electric automotive industry with huge investments in smaller startups. Telecommunications giant Huawei even announced plans to make huge investments into its subsidiaries involved in the manufacturing of cloud-based automotive services.
