Oh, heck! China’s answer to the EU’s tariffs. That’s a lot of jobs gone, Italy too.
“The European Union’s decision to impose tariffs of up to 45% on Chinese electric vehicles has sparked significant economic consequences. China responded by ordering its automakers to stop expansion plans in Europe, leading to the cancellation of major projects. In Germany, Svolt Energy Technology terminated its €3.8 billion battery factory plans, while Italy faced setbacks when Dongfeng Motor Group halted negotiations for a new manufacturing facility. These developments highlight growing tensions between China and the EU in the electric vehicle market.”
Would you like unrestricted imports of far cheaper Chinese vehicles?
How many jobs would that save?
And they are projected jobs aren’t they? ,Not existing jobs.
I am not saying any of this is good news. It isn’t.
I have said before, and will say again, that the world is changing and we will be needing a new way of looking at things.
AI and automation is set to start making ever increasing changes in the global job market .
UBI may well be the way to go. Maybe not tomorrow, but sooner than some think. And it’s better to start thinking about things earlier rather than later.
Yes, Madness in my opinion. Europe’s legacy auto have spent years lobbying against the transition to electric vehicles, Why is Brussels defending them when the mass motorist is demanding cheaper EV’s? They have no supply chain to speak of to build EV’s & the ones they’re putting out are way too expensive & sub-par to the Chinese offerings in design, tech & software. Legacy auto is never going to be the same again.
Italy’s FIAT are going to be toast, The new BYD/Chery automobiles joint venture sub brand called Omoda that has recently arrived in UK/EU is already outselling Fiat in the UK.
Even Nissan are in emergency mode & just announced 9,000 job loses & halves CEO’s pay.
Yes you’re right, the only way legacy auto could compete was to buy into a big Chinese brand like Stellantis did with a 20% stake in Dongfeng motors to get around the tariffs & do final assembly of their C10 SUV & a compact car in the EU (Poland) That’s all up in the air now so I don’t know what will happen with all that investment money Stellantis paid into Dongfeng motors.
The rise of the yellow man across Europe seems unstoppable! i know china owns all the major ports here now ,what next? Going back 20yrs i once shared a house with a chinese bloke in Ipswich ,crewcut hair he worked for BT ,looked and talked like the techno guy he was .But everytime hed had a bath there were these lonnng black hairs 12 inch long left in the bathtub …
Where do you get the idea of any market preference for EVs.That’s total bovine excrement that contradicts the facts.EVs are a liability new and even moreso used.
EV sales are entirely dependent on ICE sales restrictions and rationing and punitive taxes.
Why are you so keen to help China’s economy and its war chest ?.
Seems to be catching on with other laggard automakers (Ford) slashing the bonuses of these top tier execs by 65%, they’re paid mega bucks to foresee where the future is headed & to start competing with the Chinese, Every man & his dog could have told them that for nowt. Ford will need every penny it can get it’s hands-on to pay for carbon credits next year.
Overall car production is not what it was a few years ago either.
From 2000 there was a steady-ish rise up to 2018, but then a dip.
What happened then?
2020 obviously we had Covid and production has not recovered back to 2018 levels.
Is this the next generations not buying personal cars? Are they using more public transport around cities, and car sharing when needed?
It isn’t just EVs taking a bigger market share of the market, it is also a market that, although not exactly shrinking, is not growing as it was.
The next generation doesn’t seem to be interested in buying cars with all the expense that goes with them, They’ed rather order an Uber up from their phone & if electric Jesus gets his way there will be hoards of Robo Taxi’s roaming the streets in the not too distant future.
Private new car sales have been decreasing for years, with the vast majority now on lease/PCP deals.
I’m pretty sure it was ‘‘America’’ who lead the way to outsourcing towards China and investing there for the last 4 or so decades…with the hope that once China became prosperous and wealthy through capitalism they would embrace democracy, dissolve the authocracy/totalitarian model and turn from hostile to friendly to the West. Yeah that worked well like most American plans/ideas
Let’s give a population of 1.5 billion the same standard of living and level of consumption of resources as the around 900 million combined population of North America and Europe.
In the hope that they will turn from Communist enemy to western friend.
As opposed to Communist enemy with a much bigger military budget with a much bigger hunger for food and resources.
I feel sure that the Chinese population, and others are very happy in supporting higher standards in other countries, and will willingly continue the status quo in the future.
The future will be peaceful and problem free so long as we in the west decide not to encourage equality of living standards and consumption with us in North America and Europe.
Obviously less could go wrong by keeping western wealth at home, to sustain the lower consumption, of our lower population and to maintain our defence spending.
Than handing it all over to an enemy Communist state.
Unless you actually want to see a stronger better fed China at our expense.
