Chinese automakers can build an electric vehicle (EV) for €10,000 ($10,618) less than European automakers, an overwhelming cost advantage that will put pressure on European manufacturers in their home market, the head of auto supplier Forvia said, reports Reuters.
As European consumers seek cheap EVs, Forvia Chief Executive Patrick Koller told the CES convention in Las Vegas on Wednesday that China was producing “good vehicles” and Europe would not be able to stop imports.
The issue is “more dangerous” for Europe than the United States, Koller told Reuters in an interview, as high duties have limited China’s US market share.
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