Paris Auto Show Highlights EU-China EV Competition

The 2024 Paris Auto Show highlights the growing competition between European and Chinese automakers amid tensions over EU tariffs on Chinese-made electric vehicles (EVs). European manufacturers like Renault and Citroën are showcasing new affordable models to counter China's expansion in the market. Despite EU plans to impose tariffs up to 45% on Chinese EVs, Chinese brands such as BYD and Xpeng are pressing forward with European expansion, unveiling innovative models at the show. The event also marks a strategic moment for European automakers facing declining demand and stricter emissions targets. Notably, companies like Stellantis and Volkswagen have issued profit warnings, underlining the challenges in the transition to electric vehicles. The show is seen as a battleground for market share, with both European and Chinese brands unveiling a range of electric and hybrid vehicles to attract diverse consumer segments.