Cheaper imports overshadow EU construction costs
【Summary】Car makers in Europe, including Volkswagen, are concerned about the rising costs of developing and building cars and automotive technology locally. They are particularly worried about competition from cheaper and more profitable Chinese electric cars. Thomas Schaefer, head of the Volkswagen brand, highlighted the high costs of battery plants as a barrier to onshoring investments in Europe.
Car makers operating in Europe's traditional automotive manufacturing hubs, including Germany and the UK, are expressing concerns about the expenses involved in developing and manufacturing cars and automotive technology locally. They are particularly worried about competition from cheaper and more profitable Chinese electric cars.
Thomas Schaefer, head of the Volkswagen brand, recently stated in an interview with Autocar at the Munich mobility show that they want to invest in technology, batteries, and chips. However, he also pointed out that Europe is lagging behind in this game. Schaefer specifically mentioned the high costs associated with battery plants, which are hindering their plans to bring key investments onshore as electric vehicles (EVs) continue to gain popularity.
Fiat Titano Shares Peugeot Landtrek DNA
Jaguar XF Sportbrake 2024: Enhanced Value in a Spacious Estate
Michael Ball driving ban speeding twice £60,000 Porsche
Giant Windshield Wiper of Cybertruck Appears to be Flimsy
Land Rover Defender 130 P500 AWD UK road test
Land Rover Defender 130 P500 2024: Spacious and Powerful
Sixt Ends Partnership with Tesla Over High Repair Expenses
Tesla's Supercomputer Ambitions Take a Hit as CEO Departs
- Electric car charging etiquette: Unspoken truths
- Electric Rolls-Royce Spectre Experience
- New Restrictions on Sales of Petrol, Diesel, and Hybrid Vehicles
- Michael B Jordan's Ferrari collision
- Electric car tariff delay
- Toyota LandCruiser 70 Series: Ensuring Future Resilience
- Toyota's commitment to combustion sports cars
- Franken-Land Rover Chassis Woes
- New altitude world record achieved by Porsche 911
- Audatex price increase criticized by NBRA