• 12/07/2024 19:46

Volkswagen, Renault and Stellantis plan to team up to confront China

European automakers Volkswagen, Renault and Stellantis are discussing the possibility of joining forces to confront Chinese electric vehicle manufacturers in the future. Bloomberg writes about this.

 Volkswagen, Renault and Stellantis plan to unite to confront China

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Stellantis NV CEO Carlos Tavares noted that In the future, companies that cannot withstand Chinese competition will find themselves at a disadvantage.

According to Bloomberg, sales of all-electric cars will grow more slowly this year, and the unexpected halt in momentum will increase competition.

With the slowdown in demand for electric vehicles, Chinese models are entering the European market, with which local manufacturers have nothing to compete with. For example, the BYD Dolphin meets the characteristics and equipment of the Volkswagen ID.3, but costs 7 thousand euros less. In terms of production of electric vehicles, Volkswagen is less than BYD by more than half.

Volkswagen, Renault and Stellantis are considering the concept of rebooting the industry based on broad cooperation – Airbus in the auto industry – to create a low-cost, competitive electric vehicle. Options for creating unified production chains within the EU are being discussed.

minfin.com.ua

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