China has agreed to halve its exports hybrid cars to the European Union the next four years. The landmark deal followed intense negotiations, as both sides sought to avoid a harmful trade war. The EU's trade commissioner, Maros Sefcovic, said the agreement could prevent millions vehicles entering the European market. He said: "This package proves that negotiations bring results." European carmakers have struggled to compete cheaper Chinese imports. China's rise has raised fears factory closures and job losses Europe. Despite these concerns, Mr Sefcovic was pleased the talks. He said the deal was "only a first step" more equitable trade relations.
China has rapidly become a major player the global car industry. Chinese manufacturers have established a foothold many markets worldwide. China's auto companies have become world leaders electric and hybrid technology. Chinese cars are now very popular motorists across the globe. Makers such as BYD, Xiaomi, and Geely offer competitively priced vehicles that are reliable and have good build quality. Consumers see these cars as more affordable alternatives to European and Japanese brands. Sales Chinese cars the EU now make around 10 per cent the new car market. In the UK, this figure has steadily risen to nearly 20 per cent.