VIENNA (Reuters) -Austria's Steyr Automotive has won an order to produce electric trucks for China's SuperPanther for sale in the European market, it said on Tuesday. Chinese automakers have expanded
Steyr Automotive Secures Major Electric Truck Deal with Chinese Firm
VIENNA (Reuters) -Austria's Steyr Automotive has won an order to produce electric trucks for China's SuperPanther for sale in the European market, it said on Tuesday.
Chinese automakers have expanded in Europe, betting on their competitive pricing and advanced technology to break into a market traditionally dominated by European and American brands.
This expansion has stoked trade tensions between Brussels and Beijing, including a row over EU tariffs on Chinese-made EVs, imposed to protect European producers.
China avoids tariffs if its models are produced in Europe.
In mid-June, Steyr and SuperPanther signed an agreement for the production of electric trucks.
No financial details were disclosed.
Steyr, which was acquired from Germany's MAN by Austrian investor Siegfried Wolf in 2021, could produce thousands of electric trucks for the European market, local newspaper Oberoesterreichische Nachrichten reported on Tuesday.
Steyr told Reuters the tractor units will be manufactured with two axles, as is common in Europe, in contrast to the three-axle model produced by SuperPanther in China.
The Austrian company added that SuperPanther plans to sell up to 16,000 electric trucks in Europe by 2030 and that the vehicle's production will start next year.
SuperPanther did not immediately reply to a request for comments from Reuters.
(Reporting by Alexandra Schwarz-Goerlich and Paolo Laudani; editing by Barbara Lewis)
