LONDON, Sept 12 (Reuters Breakingviews) - China can offer a bitter medicine for Europe’s bold electric vehicle pivot.
That has prompted carmakers to develop premium e-cars for richer punters, rather than mass market vehicles.
More competition from Chinese carmakers should help bring down prices of electric vehicles in Europe.
It will force Western players to keep cutting costs to avoid losing too much market share, boosting overall e-car adoption.
Sales of EVs picked up in August, with Jefferies analysts estimating a total market share across Europe of 23%.
Persons:
Oliver Zipse, Olaf Scholz, carmakers, Morgan Stanley, Encouragingly, BYD, ”, EVs, Lisa Jucca, Oliver Taslic, Thomas Shum
Organizations:
Reuters, Volkswagen, European Automobile Manufacturers ’ Association, HK, Norway, BMW, Reuters Graphics, Jato Dynamics, Benchmark Mineral Intelligence, BYD, Renault, UBS reckons, Financial, Electric, European Union, Jefferies, Thomson
Locations:
China, Europe, Italy, Europe’s, Germany, Norway, Latvia, Bulgaria, Britain, Polo . China, Western, EU