Reuters

China’s electric carmakers make their move on Europe

China’s electric carmakers are darting into Europe, hoping to catch traditional auto giants cold and seize a slice of a market supercharged by the continent’s drive towards zero emissions. Nio Inc, among a small group of challengers, launches its ES8 electric SUV in Oslo on Thursday – the first foray outside China for a company that is virtually unheard of in Europe even though it’s valued at about $57 billion. Yet Europe, a crowded, competitive car market dominated by famous brands, has proved elusive for Chinese carmakers in the past.

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