Cheaper imports in EU cause concern for VW boss

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【Summary】Car makers in Europe, including VW, are concerned about the high costs of developing and building cars and automotive technology locally. They believe that it is cheaper to import these products from China, where electric cars are more profitable. European car manufacturers want to invest in technology, batteries, and chips, but feel that Europe is too slow in this game.

FutureCar Staff Sep 18, 2023 4:19 PM PT

Cheaper imports in EU cause concern for VW boss

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 manufacturing cars and automotive technology locally. They are preparing themselves for competition from cheaper and more profitable Chinese electric cars.

Thomas Schaefer, head of the Volkswagen brand, highlighted the slow pace of Europe in investing in technology, batteries, and chips. He stated this during an interview with Autocar at the recent Munich mobility show. Schaefer specifically mentioned battery plants as an example where the high local costs are hindering their plans to bring key investments onshore as electric vehicles (EVs) continue to gain popularity.