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Guangzhou Automobile Group (GAC) aims to increase its European electric car sales 17-fold over the next two years, becoming the latest Chinese player to take on the region’s traditional automakers through aggressive expansion.
The entrance of the Chinese state-owned carmaker will exacerbate competition in the already intense European market that has recently seen interest from players from the world’s second largest economy, from BYD to Xpeng
GAC’s presence will likely further add pressure on European giants — such as BMW
and Mercedes
