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Chinese electric car maker to enter European market Chinese electric car maker to enter European market
Aiways has obtained the necessary permits and certifications to enter Europe Aiways is a Shanghai-based startup that will begin selling in China this month... Chinese electric car maker to enter European market
  • Aiways has obtained the necessary permits and certifications to enter Europe
  • Aiways is a Shanghai-based startup that will begin selling in China this month

Aiways introduced its electric vehicles to the Chinese market in November 2019 and plans to expand to Europe in 2020, with a focus on Norway, the Netherlands and Germany.

The Aiways U5 SUV will cost Chinese locals between US$29 000 and US$43 000, making it a competitively priced electric vehicle. Aiways will showcase its vehicles in showrooms in larger Chinese cities and use online sales to reach the rest of the country.

Aiways intends to use pop-up stores and to showcase with local partners to penetrate the European market. The Aiways U5 SUV (sports utility vehicle) will cost Europeans about UK£35 000 (US$39 000). Brands such as Volkswagen retail their small electric vehicles at under £30 000. As the Aiways U5 is an SUV, its price is competitive compared to Tesla’s Model X SUV which retails at more than £100 000.

Aiways, which launched in 2017, is planning to launch its U5 SUV in Europe in the second quarter of 2020. It will be the first Chinese company to enter the electric vehicle market in Europe, which is dominated by US and Japanese brands.

Read more here:

https://fortune.com/2019/11/15/aiways-u5-tesla-europe-electric-car/

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