The rapid growth of the EV market has led to a huge level of investment in new models, batteries, chargers and other components that have supported this growth. As the EU continues to dither about vehicle emissions (encouraged by the oil lobby and some legacy car makers), all this investment is now being put into question.
On one hand, EV vehicles have been the growth engine for the European Automotive industry (and also for the global automotive market) which has led to billions of Euros in investment, and on the other hand, the oil lobby and some legacy automotive manufacturers are pushing back against emissions legislation.
But if Europe holds its course on EV manufacturing — including all the related / supported components (batteries, power electronics, and critical components) it can rebuild its industrial base and secure growth and jobs. PSR
Source: Clean Technica: Read The Article
PSR Analysis: The EU is once again proposing to revise its 2030–2035 car CO2, with the new Commission proposal weakening both the 2030 and 2035 targets, and the auto industry wants to reduce that ambition even more. The real danger here is while legacy automotive manufacturers would “buy” time to sort out their issues, the rest of the world (apart from the USA) is not standing still, and EU automotive manufacturers will find themselves further behind, with even less time to sort out their issues before bankruptcy looms. What this boils down to is that if EU does not embrace the EV revolution, they will lose out and the EU’s auto industry will enter a period of rapid decline / loss. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
