UBS: The global expansion of Chinese car companies is unstoppable, and their market share in Europe is expected to reach 20% by 2030.

UBS released a global electric vehicle consumer survey report stating that the global expansion of Chinese automakers is unstoppable, predicting that by 2030, China's automotive companies will achieve a global market share of 37%, with a 20% share in Europe, compared to 22% and 8% respectively from 2026 to present. The report highlights that consumers in Europe and Latin America are increasingly interested in Chinese brand electric vehicles, with 36% of European respondents and 54% of Latin American respondents considering purchasing electric vehicles from Chinese brands. The interest of European consumers in Chinese brands has now surpassed that in Japanese and Korean brands. The survey shows that the main reasons consumers consider purchasing Chinese brand electric vehicles are cost-effectiveness, accounting for 66%, and advanced technological features, accounting for 61%, which include digital user experience and autonomous driving capabilities. The primary reasons for rejecting Chinese electric vehicles are concerns about quality and reliability, safety, and privacy and cybersecurity. UBS believes that price is not the only competitive advantage; the competitive edge of Chinese automakers in equipment, advanced driver-assistance systems, and digital user experience poses a greater challenge to traditional automakers. UBS expects that the overseas expansion of Chinese automakers will place the greatest pressure on mass-market automakers in Europe and Asia, while American automakers are experiencing a more stable industry environment due to their slower transition to electric vehicles and the exclusion of Chinese firms from the market. Among European automakers, UBS is optimistic about Porsche, considering its business transformation story and limited market overlap with Chinese automakers. The firm predicts that BMW and Mercedes-Benz will also face more intense competition in markets outside China in the medium term.