[ad_1]
A raft of Chinese brands are expected to enter the UK car market over the next 18 months and manufacturers hope to quickly seize market share just as Japanese carmakers did in Britain in the 1980s.
Companies are exploring local manufacturing options as the cost of assembly in China climbs as a result of rising living standards across the country.
Where car plants are placed will depend on what deals, subsidies and other inducements are made available by European nations. High electricity prices in Britain for manufacturers are thought to be a barrier.
However, Britain is still seen as an attractive choice thanks to the growing supply of green energy, the huge potential for offshore wind and the fact it is Europe’s second largest car market after Germany.
Chinese manufacturers are looking overseas as the domestic market becomes saturated. Local car prices are falling as the pandemic-era boom in demand for vehicles comes to an end, leaving the market oversupplied.
A government spokesperson said: “The Government is determined to ensure the UK remains one of the best locations in the world for automotive manufacturing and regularly engages with automotive companies to secure investment into the UK.”
[ad_2]
Source link