Europe’s biggest car manufacturers are wary of the competitive threat posed by new Chinese companies, as the industry moves towards electrification.
Germany is the ‘sick man of Europe' — and it's causing a shift to the right, top economist says
The challenge from the east was also acknowledged by Volkswagen CEO Oliver Blume, who said the company had established a new China strategy this year to focus on developing technologies to cater specifically to Chinese demand. He added that Volkswagen has established"huge cost initiatives" and sees big opportunities to scale up its EV production while reducing battery production costs by 50%.
They highlighted that even at this current level, capacity is twice the GWh required if the entire Chinese vehicle fleet were to be converted into battery electric vehicles. Various subsidies and incentives are now available for European companies, but Zellmer said these were"no where near the U.S. or China" and policymakers were"not moving fast enough" to keep pace.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Renault CEO: China very competitive on electric vehicles, Europe needs to catch up By ReutersRenault CEO: China very competitive on electric vehicles, Europe needs to catch up
Leer más »
UBS Cuts VW Rating On China Threat; Company Says China Going WellUBS cut VW to “sell” from “neutral”, saying it is the most exposed carmaker to China. VW said its activity in China was progressing. Profitability is its top priority.
Leer más »
Soros Vows 'No Retreat' From Europe, Warns Trump Threatens EU UnityAlex Soros rejected claims that his globalist operation will 'retreat' from Europe, while warning Donald Trump poses a threat to EU unity.
Leer más »
The Russian fossil fuel Europe can’t get enough ofEuropean countries are buying more liquified natural gas from Russia than they did before its full-scale invasion of Ukraine last year, revealing a...
Leer más »
Rookie Ludvig Aberg surges to European Masters win and into Europe's Ryder Cup selection pictureSwedish rookie Ludvig Aberg has surged to a two-shot win at the European Masters. He also went right into the Ryder Cup picture for Europe when the six captain’s picks are announced Monday.
Leer más »
Rookie Ludvig Aberg surges to European Masters win and into Europe’s Ryder Cup selection pictureSwedish rookie Ludvig Aberg surged to a two-shot win at the European Masters on Sunday and right into the Ryder Cup picture for Europe when the six captain’s picks are announced Monday.
Leer más »