Europe, the world’s second largest producer of passenger cars, has long taken pride in its automotive industry. But the global auto industry is seeing new business models, entrants, and competitors as it shifts to electric vehicles. Europe risks losing ground, fast.Research published last month by the German think tank Mercator Institute for China Studies (MERICS) shows that Europe is now the main destination for Chinese EV exports. That’s not because consumers are clamoring for Chinese EV brands, note MERICS analysts Gregor Sebastian and François Chimits. Rather, US and European carmakers are increasingly moving production to China.https://datawrapper.dwcdn.net/HSK68/1/Read the rest of this
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