Leading Chinese carmakers have dismissed the idea of challenging Europe’s legacy manufacturers with cheaper electric vehicles. What Happened: At the Paris motor show, Chinese carmakers, including Xpeng Inc. (NYSE:XPEV) and Guangzhou Automobile Group Co. Ltd. (OTC:GNZUF), emphasized their long-term commitment to the European market. This comes amidst a trade war between Beijing and Brussels and fears of a potential “invasion,” reported the Financial Times on Sunday. “We’re a 10-year-old company. We’re not going to overthrow anybody who’s developed over 100 years,” said Xpeng co-president Brian …
