EU tariffs on Chinese-made EVs would 'wipe out' Cupra

[Syphon]

Article from Autocar:

EU tariffs on Chinese-made EVs would 'wipe out' Cupra | Autocar

Boss Wayne Griffiths says extra 21.3% tax "puts whole financial future of the company at risk"

www.autocar.co.uk

 

[tracktoy]

Just posted this on a different thread but ties into the same issue

It’s a rare corporate governance special in today’s Sustainable Switch as we rev up our engines and drive into the Volkswagen saga.

So, what’s been going on with the German carmaker?

Well, the auto giant is weighing its first ever plant closures in Germany and its powerful unions are ready for a fight.

Arno Antlitz, chief financial officer and chief operating officer at Volkswagen Group, said in a speech to staff at its Wolfsburg headquarters that the carmaker has "one, maybe two" years to turn its main car brand around.

Heckled with shouts of "Auf Wiedersehen" – German for 'goodbye' – Antlitz told a gathering of 25,000 workers that they needed to work with management in cutting spending to help the brand survive the shift to electric cars.

He told the meeting at Volkswagen's Wolfsburg headquarters that Europe's car market had shrunk after the pandemic and the company was facing a shortfall in demand of about 500,000 cars, equivalent to about two plants.

"The market is just not there," he said according to excerpts of his speech, adding he did not expect sales to recover.

 

[tracktoy]

I am sure you have all seen the news on the VW ongoing issues and now it appears Germany issues but saw this today about Stellantis

Amid Stellantis jitters and a secular crisis, the French automotive industry is fearing for its survival | Euractiv

The French automotive industry is in crisis, weakened by a sluggish economy, competition from China and the transition to electric vehicles initiated by the European Commission. As a result, redundancy plans are on the increase.

www.euractiv.com

Following in the footsteps of the German sector, the French automotive industry seems marred in crisis, weakened by a sluggish economy, competition from China and a bumpy transition to electric vehicles. As a result, redundancy plans are on the rise.

however there are some interesting comments on where the cars are built in Europe

"Renault and Stellantis have been relocating their activities since the 1990s. At the time, electric cars and competition from Asia could not be used as a pretext. Today, all this is used as an excuse to benefit from billions of euros in public subsidies and make ever higher margins"