Zhu Jiangming: Leapmotor is preparing to establish a factory in Spain

Faced with the issue of EU tariffs, both Chinese and German car manufacturers hope to accelerate the process of local manufacturing. Zhu Jiangming, founder, chairman, and CEO of Leapmotor, stated in an interview with a special correspondent that with the help of Stellantis Group's mature resource system, Leapmotor has quickly completed its business layout in over 30 countries and regions worldwide. He admitted that the 30% tariff on electric vehicles in the EU, combined with shipping costs, results in high sales costs for Chinese electric vehicles in Europe. The company is accelerating local manufacturing and preparing to establish a factory in Spain. A BYD representative stated that the company is promoting the localization of electric vehicle products in Europe, with its factory in Hungary expected to officially start operations next year. Currently, BYD is rapidly expanding in Europe with its plug-in hybrid vehicles. Chinese automakers like Chery are also advancing local production in Europe