Miraco Motor plans to launch electric vans in the European market, challenging established players, reported South China Morning Post.
Miraco Motor CEO Xiao Ning announced plans to launch its first model in Europe next year, targeting a 10% share of the market, which is over 1.7 million such vehicles sold annually.
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Ning said: “Electric commercial vehicles have an overwhelming advantage over petrol rivals because of electricity’s lower cost than gasoline. Our van will compete against six to seven rivals there, and we think it’s reasonable to target a 10% share.”
Miraco Motor, a commercial vehicle subsidiary of GAC Group, was established in late 2023 in Guangzhou, China.
The company’s battery-powered vans come with a claimed range of up to 350km on a single charge and are designed with a modular approach, which splits the drivetrain parts from the cabin and cargo areas, to facilitate the production of new models.
Xiao Ning also revealed ambitions to delve into the robotaxi industry with autonomous driving systems.
The company’s strategy includes a partnership with European electric-van developer Flynt, which will handle sales and after-sales service for Miraco’s co-designed products.
Unlike passenger EVs from China, which face hefty tariffs in the European Union, Miraco expects its commercial vehicles to not encounter such trade barriers, giving them a competitive edge.
Ning added: “With Flynt’s ability to serve the European market, our tie-up could make our vans more competitive in the market. We want to serve as the vanguard for GAC as the group revs up its internationalisation pace.”
The group aims to expand its global reach to over 100 countries and regions, leveraging its existing factories in Malaysia, Thailand, and Indonesia.
GAC Group, with partnerships including Toyota and Honda, has set an export target of 500,000 vehicles by 2027, almost quadruple the volume in 2024, stated its general manager Feng Xingya.
