Major EU ports are almost full to capacity with Chinese electric vehicles (EVs) that no one wants to buy. A slump in sales across Europe has caused parking lots at the Belgian ports of Antwerp and Zeebrugge to fill up with the Chinese imports.
The parking lots are each able to accommodate about 130,000 vehicles and are crammed full of MGs, BYDs, Nios, XPengs, Lynk & Cos, Omodas and Hongqis, among others.
Chinese EV companies have aggressively targeted European markets as they look to take advantage of the EU’s green agenda.
Fire insurance.
I’m hopeful that the automakers who have proudly announced they’ll be switching to an all electric future (Chrysler for example) hold true to what they’ve said and see their future vision out to its rightful end.
and that VW / #Libranos continue on with their multi billions dollar battery plants built in Ont. for a market ill equipped to absorb the comprehensive idiocy of their endeavors.
What will the Chinese do with all those unsold crapola cars? What will they do with next year? Were they planning on just making the same model with a new year tag on them like VW did with The Bug for decades? Remember the lineups of Chev Malibu type vehicles in 2008-2010 sitting in the lots? The folding of Pontiac SAAB Saturn … ya’ll know that economics is all about the echos … raise the minimum wage to $15/hour and the next echo is all the McDonalds are automated.
Perhaps the importers of Chinese built garbage EV’s could store these in front of their parliament buildings?
Just park them there, it’s all good….
Has anyone checked what electrical rates will be like over the next 10-30 years (not that the batteries in these cars are actually expected to last for 10 years!) …. I suspect that like copper over the next couple of decades, (price expected to move between $5/pound to +/- $50/pound) that someone is going to step back from the fray and say, “If only there was a resource we could burn to enable our vehicles to move more efficiently”
https://www.youtube.com/watch?v=_LXKZq0fYDw … 43 years old and could have been written last week
This Chinese EVs scam is similar to the Chinese Real Estate scam (ghost cities) or the Chinese Solar Panels scam.
Exactly. Just keep the peasants busy doing things … and then devalue your currency further
With no electrical grid capacity that hasn’t been vandalized by the greens to charge these, let alone allow the implementation of AI infrastructure to say nothing of the metals required, reality is breaking out from between the curtains. If something can’t happen, it won’t. Market sentiment is finally reflecting an awareness of reality.
“BYDs, Nios, XPengs, Lynk & Cos, Omodas and Hongqis”
Please don’t tell the Chicoms, but I think part of the sales problem here is all these names. For example, who in their right mind would want to own up to driving a “Hongqi”?
i suspect it’s an ethnic slur. The commies are a desperate lot and will stop at nothing.
I want to drive a Honkie to the next occupation of Ottawa.
Qi is pronounced “chi”, roughly. Without looking for the actual characters, the name probably means “red energy” or “red power.”
The upscale version will be the Tonq. Could spark a revolution in the entertainment industry.
When do I get my free Hongqi.
Thought Criminal wins the interwebs today with Hongqi. It’s hilarious I laughed out loud
I wonder if Chinese cars drive better than Chinese drivers.
Ha!