Renault's CEO and other industry leaders are advocating for a joint European effort to combat the rising competition from Chinese electric vehicle manufacturers. The call includes establishing a 'war chest' for EV subsidies, raw materials, and infrastructure planning. China's dominance in critical minerals processing poses a challenge to global EV initiatives, impacting efforts to boost domestic industries and address climate concerns.
As the world embraces electric vehicles, China’s affordable EVs could be poised for global dominance—a possible future that worries both legacy automakers and Tesla CEO Elon Musk. https://t.co/RsyJ85Vgyv
"China also controls 85 percent of the processing of critical minerals needed for the manufacturing of electric vehicles worldwide — posing a growing challenge to Biden’s efforts to foster a domestic EV industry that would create American jobs and lessen climate pollution." https://t.co/dQB6ncz3SF
“China also needs more overseas markets: As its own economy slows, Chinese automakers are sitting on an excess inventory of as many as 10 million electric vehicles. They’re looking for places to offload it…” https://t.co/UaabSVAi1b
As Europe battles an 'onslaught' of China EVs, one CEO has a plan https://t.co/nGcAmYCxSb
"The boss of Renault has called for a European war chest to fund EV subsidies & raw materials, as well as joint infrastructure planning, to see off fierce competition from #China" https://t.co/GvlVhMbHGj
Car boss de Meo calls for joint European approach to counter Chinese EVs https://t.co/kcR0CPh6KO https://t.co/YhNGVi9QsW
Renault CEO urges 'Marshall Plan' for #Europe #ElectricVehicles https://t.co/vDxPDivMgg
Tesla goes into its pockets to sell its EVs in China https://t.co/ElWlmm8JwI by @fredericlambert
Renault calls for European war chest to tackle Chinese EV competition https://t.co/Q5qRLY7w2s