Stellantis CEO Carlos Tavares warns that the influx of Chinese electric vehicle (EV) makers into Europe could force local carmakers to shut down plants due to overcapacity. He cites Chinese brands shifting production to Europe to avoid import tariffs as a contributing factor.
Carlos Tavares believes an overcapacity of manufacturing in Europe could force local carmakers to shut down plants. Chinese EV makers, including BYD and Dongfeng, will begin building EVs in Europe. BYD confirmed that most of its Europe-bound EVs will be built in Hungary. Carlos Tavares might have his hands full with challenges at Stellantis in North America, but that hasn't stopped him from bluntly sounding the alarm about the future of European car manufacturing.
You are accelerating the need to shut down plants. Several countries in Europe are courting Chinese brands, trying to convince them to manufacture vehicles on local shores. Italy is particularly eager to attract new carmakers and has held talks with numerous carmakers. Its efforts could soon pay off as the Italian government is in advanced discussions with Dongfeng Motor to build a local factory, perhaps capable of building 100,000 electrified vehicles annually.
Ev Manufacturers European Car Market Overcapacity Tariffs Chinese Investment
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