09May2023AllianzResearchPhotobyTomRadetzkionUnsplashtotheEuropeanTheChinesechallenge19Appendix13MappingtheChinesechallengefortheEuropeanautomotiveindustry04Electricvehicles:Reshufflingcardsintheglobalautomotivegame?automotiveindustryAllianzResearch•TheshifttobatteryelectricvehiclesisagamechangerfortheEuropeanautomotiveindustry.Alternativeenergyvehiclesalesreachedarecord-breaking4.4mnunitsin2022,representing47%ofallnewvehicleregistrationsinEurope.Batteryelectricvehicles(BEVs)ledtheway,withsalesboomingby+28%,representing12%ofallnewvehicleregistrations.Withthe2035phase-outofinternalcombustionengines(ICE)looming,theautomotivesectorisonthecuspofacompleteshake...
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