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The European car industry is in a bind as sales of electric vehicles (EVs) dropped by a staggering 44% in August compared to last year. This decline has sparked calls from the European Automobile Manufacturers Association (ACEA) to relax EU emissions targets, warning of “multi-billion-euro fines” if the shift to electric production isn’t quick enough,…
New car sales in the European Union took a nosedive in August, dropping by 18.3% to their lowest levels in three years. The decline was particularly steep for electric vehicles (EVs), with sales plunging by 43.9%. This marks the fourth consecutive month of falling EV sales, as reported by the European Automobile Manufacturers Association (ACEA).…
China’s top trade official, Wang Wentao, is on a mission to sway EU trade boss Valdis Dombrovskis and prevent hefty duties on Chinese electric vehicle (EV) imports. However, his whistle-stop tour of European capitals might hit a roadblock in Brussels, as tensions escalate over nearly a year of tit-for-tat trade retaliation. The stakes are high,…
Italy’s Prime Minister, Giorgia Meloni, has criticized the EU’s ban on the sale of new fossil fuel-powered car engines after 2035, calling it a “self-destructive” policy. In her address to the Italian industrial association Confindustria, Meloni argued that the “forced conversion” to electric vehicles (EVs) could lead to significant job losses and the dismantling of…
German auto supplier Bosch’s CEO, Stefan Hartung, expects minimal growth in global car and commercial vehicle markets this year and next, according to a recent interview with Reuters. Hartung noted that the demand for cars is lower than the industry anticipated five years ago, with Europe expected to produce a few million fewer cars than…
Electric vehicles (EVs) are set to take a bigger slice of the European Union’s car market by 2025, according to a recent report by Transport & Environment (T&E). The group predicts that battery-electric cars (BEVs) will reach a market share of between 20% and 24% by that year, largely due to more affordable prices. This…
Europe's electric vehicle (EV) industry is facing significant challenges, as evidenced by the potential closure of Audi's Brussels factory.
Volkswagen, once a titan of the auto industry, is now facing a triple threat that’s putting its EV ambitions in jeopardy. According to a recent report from POLITICO, the German carmaker is grappling with challenges from China, a lagging EV transition, and labor concerns. The Fall from Grace Remember when VW’s Herbert Diess and Tesla’s…
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