Cheaper imports vs. EU building costs - VW CEO criticizes increasing expenses
【Summary】Car makers in Europe, such as Volkswagen, are concerned about the high costs of developing and building cars and automotive technology locally. They face competition from cheaper Chinese electric cars. According to Thomas Schaefer, head of the Volkswagen brand, Europe is too slow in investing in technology, batteries, and chips. The high costs, particularly for battery plants, are hindering plans to bring these investments onshore.
Car makers operating in Europe's traditional automotive manufacturing hubs, including Germany and the UK, are expressing concerns about the expenses associated with developing and producing cars and automotive technology locally. They are particularly worried about the competition posed by cheaper and more profitable Chinese electric cars.
Thomas Schaefer, the head of the Volkswagen brand, stated during the recent Munich mobility show that they are eager to invest in technology, batteries, and chips. However, he also pointed out that Europe is lagging behind in this game. Schaefer specifically mentioned battery plants as an example where the high costs are obstructing their plans to bring key investments onshore as electric vehicles (EVs) continue to gain momentum.
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
- Tesla Cybertruck 2023 unveiling - images
- Suttie's Weeklong Adventure in a Honda ZR-V Hybrid SUV
- Sales Ban on New Petrol, Diesel, and Hybrid Vehicles
- Five-Rotor Wankel Powers Mazda 787B Tribute
- Tesla EV policy talks continue.
- Everyone's Obsession with VW Campervans
- Toyota's Futuristic EV Concept Unveils Sporty Crossover Vision
- Greater government support for EVs
- Hull's Electric Vehicle Charging Infrastructure Expands
- Electric Morgan Super3: Mapping the Future of the Brand's EVs