EVERY summer, more than 200,000 car fans make the pilgrimage to Britain’s Goodwood Festival of Speed near the south coast to see fast cars rev their engines amid clouds of smoke.
This year, the crowds – traditionally known for turning up in their vintage British sports cars, cigars in hand – were met with a new sight: an array of shiny, new Chinese electric vehicles (EVs).
Chinese carmakers have flocked to the show in a bid to broaden their appeal to European consumers after their initial growth in the market slowed.
BYD, China’s biggest carmaker, displayed nine models, drawing the biggest crowd compared with its domestic rivals, alongside Chery Automobile’s mass market Omoda and more upmarket Jaecoo brands and luxury manufacturer Hongqi. Last year, Nio was the only homegrown Chinese automaker to attend the event.
“It doesn’t only mean we want to sell the car to them – it means we are coming, we are here in the UK now, with a good product and good brand,” said Chery’s UK head Victor Zhang.
Onlookers were keen to check out BYD’s new Yangwang U9 electric supercar, which performed a dance to music by raising and dropping the suspension on its wheels. Its main trick is going from zero to 100 kilometres per hour in 2.36 seconds. Meanwhile, at Hongqi, female representatives in red glittery dresses showed off the cars.
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Goodwood is among the most quintessential events on Britain’s social summer calendar, a jamboree for Ferrari and Lamborghini fans held on a country estate that’s more than four centuries old. Visitors can watch a hill climb and other off-road challenges alongside a broad display of classic cars.
The rise in Chinese carmakers at the festival comes as their push for market share in Europe’s EV market slows, after quick initial advances led by Saic Motor which in 2007 bought the defunct British MG brand. BYD’s offering includes models such as the £37,695 (S$65,399) Atto 3 crossover.
A representative at BYD’s Goodwood stand said people were starting to recognise the brand from its advertisements at the Euro 24 football championship, where England’s team has reached the final. BYD also made a small pitch to allow children at the festival to kick a ball around.
The rise in EV shipments from China triggered the European Union to investigate unfair subsidies to the sector, and the bloc last week moved ahead with additional tariffs on China-made EVs of as much as 38 per cent. Currently, Chinese-owned brands make up less than 10 per cent of EV sales across the region.
The decision came after the US slapped a 100 per cent duty on EV imports from China, while Canada is considering additional tariffs. In Britain, Saic’s MG4 hatchback was the second-best selling EV last year. The UK’s new Labour government has yet to detail its stance on potential tariffs.
Chery’s Zhang said he hoped the UK won’t fall in line with the EU. “It’s not good for business,” he said. “It only hurts the customers because eventually, the customer needs to pay.”
Tensions around trade are likely to be far from visitors’ minds at Goodwood, where Formula One champion Max Verstappen is due to appear at the four-day show thanks to a break in the racing schedule, as are other F1 stars such as Aston Martin’s Fernando Alonso.
Chery’s Zhang said he expects buying a Chinese brand will become as normal as purchasing a Kia or Hyundai.
“Twenty years ago, when Kia or Hyundai entered into the UK, maybe you had similar concerns,” he said. “But now British people embrace the Korean brands. I think we will become similar. BLOOMBERG
