Power shift
Electric cars from China pose a major risk to European car manufacturers. That wide-open door is kicked in by insurer Allianz Trade.
According to Allianz Trade, it is not inconceivable that European car manufacturers could miss out on as much as €7 billion in revenue by 2030 due to electric cars from China. According to Allianz Trade, European policymakers would do well to respond with tariffs on EVs imported from China. Furthermore, European manufacturers should pay more attention to developing EV technology. But there’s more. Allianz Trade says that it is certainly not a bad idea to have Chinese manufacturers produce their EVs in Europe. Earlier this year, Stellantis CEO Carlos Tavares spoke out on this subject. Tavares called on the European Union to protect the European car industry against competition from China.
“The price difference between European and Chinese cars is significant. If nothing is done to change the current situation, European mid-range consumers will increasingly turn to Chinese models,” said Carlos Tavares at the time Automobilweek. Even before that, Carlos Tavares was already very critical of the subject of ‘Chinese EVs’. Allianz Trade writes that the damage can be enormous. For European countries with a large car industry, the financial damage could amount to 0.3 to 0.4 percent of gross domestic product around 2030, according to Allianz Trade.
The number of Chinese brands offering electric cars in Europe is growing almost monthly. In China itself, EVs from domestic brands are gaining ground. On the other hand, European manufacturers are increasingly struggling to sell European-built EVs to Chinese consumers. In addition, quite a few European models roll off the production line in China.
.
– Thanks for information from Autoweek.nl