Will Europe join forces to confront the flood of Chinese electric cars? European automakers are exploring ways to confront challenges posed by competitors. Despite ambitions to replace conventional combustion-engined cars by 2035, sales of fully electric cars are expected to see their slowest growth since 2019.
Headwinds for the sector include declining government incentives, rising repair costs holding back leasing companies, and growing consumer frustration with climate policies. The last resort for European automakers may be to call for more trade and regulatory protection.