BYD, SAIC MG’s MG Motor, and other Chinese carmakers are eroding market share in Europe, the UK, and other overseas markets with lower-priced, and often more advanced, EVs.
After launching the MG4 EV in the UK in 2022, it quickly became one of the most popular electric vehicles in the region with up to 323 miles of range, fast charging in under 35 minutes, and a spacious interior. It was widely viewed as a cheaper alternative to the Volkswagen ID.3.
Chinese carmakers, led by MG and BYD, already accounted for nearly one in every ten cars sold in the UK last year. With new, lower-priced models arriving, it will be interesting to see what share of the market they control by the end of 2026.
Cheaper but better seems to be winning the day.