2024-05-16 16:24:04
It is not simply Western manufacturers like VW and Tesla which might be struggling to compete with native corporations in China‘s cutthroat auto market. The identical applies to a few of the Chinese language automotive producers, as certainly one of them, Aiways, has introduced that it’s withdrawing from the nation.
Aiways already has its European headquarters in Germany, the place the corporate plans to focus its consideration on gross sales going ahead. Thus far, nevertheless, there are not any plans to switch manufacturing from China to Europe. The U5 and U6 electrical vehicles will proceed to be manufactured in Asia and imported to the Previous Continent.
The transfer is partly associated to Aiways’ plan to take the corporate public later this yr, based on Autocar.
“The worldwide gross sales middle of Aiways will transfer to Europe and particularly to Germany after the itemizing,” Aiways revealed to the English journal. “There are not any plans to remain within the Chinese language market on account of sturdy value strain and competitors.”
Aiways bumped into monetary bother final yr and was pressured to cease manufacturing of the U5 and U6 fashions at its manufacturing unit, however has restarted the meeting strains. The corporate is engaged on a brand new base crossover to offer an opportunity for larger volumes.
Aiways’ long-term plans embrace enlargement into the Center East, constructing right-hand drive vehicles for the UK and even exporting to the US market by the tip of this decade.