Two Chinese car brands will be launching in the UK this year with electric cars set to undercut the price of legacy manufacturers.
New EV models will be introduced by Innovation Automotive (IA) Electric Vehicles, with brands Seres and Skywell set to hit the roads.
The Seres 3 will be the first car sold in Britain from the Chongqing-based manufacturer, although its “automobile” arm is headquartered in California.
The compact SUV was first shown at the London EV Show in December, with hopes for the vehicle to go on sale in April with a price of “less than £30,000”.
The Seres 3 EV
Innovation Automotive Electric Vehicles
Drivers will see a 54kWh battery in the Seres 3, with it taking just 30 minutes to charge from 20 per cent to 80 per cent. It is believed that the 3 will offer a range of 205 miles.
The sub-£30,000 price tag will make the electric car cheaper than the wildly popular MG ZS EV, which retails for £30,495.
Gary White, general manager at IA Electric Vehicles, praised the move and said the UK would act as the “perfect match” for the brands.
He said: “This is a very exciting time for IA Electric Vehicles as we welcome Seres and Skywell into the family, alongside DFSK.
“Both brands are highly respected around the world and their technology, comfort and refinement are a perfect match for the UK marketplace."
The second brand, Skywell, will launch the “premium and sophisticated” ET5 in the UK later this summer.
It has been described as a mid-size SUV with an impressive range of 304 miles and while prices have not yet been revealed, prices from the UAE suggest it may cost between £40,000 and £50,000.
IA Electric Vehicles also said it was looking to establish a franchise dealer network in the UK to sell the new vehicles when it launches later this year.
The Cirencester-based group is already selling Chinese brands in the UK, namely electric vans from DFSK, which is part of the Seres Group.
A number of major Chinese brands are already selling vehicles in the UK, including GWM Ora and BYD, with further launch plans for Chery and Nio.
Chinese brands are posing serious threats to legacy manufacturers thanks to lower production costs and better access to the required materials, allowing them to sell the vehicles at a much cheaper price.
BYD – which stands for Build Your Dreams – has knocked Tesla off the top spot as the world’s best-selling EV manufacturer for the first time.
The Elon Musk-led group delivered 484,000 cars in the fourth quarter of 2023, compared to BYD’s impressive tally of 526,000 EVs.
BYD has previously announced its intention to capture a six per cent share of the UK electric car market over the coming years as it “accelerates” its expansion plans.
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The Skywell ET5 EV
Innovation Automotive Electric Vehicles
Tesla has attempted to rapidly increase its sales with massive price cuts, the announcement of more models and the development of more Gigafactory production sites around the world.