Executives of many European car companies expressed their stance: to meet the challenges of Chinese new energy car companies

News on September 5. As the development trend of the automobile industry moves toward electrification and the rise of Chinese electric vehicle companies, the CEOs of many well-known European automobile manufacturers have recently stated that these traditional automobile giants are facing competition. A situation in which the advantages are weakened.

For many years, Europe has dominated the automotive field with its excellent internal combustion engine vehicle manufacturing technology. However, this competitive advantage is gradually eroding as market demand for electric vehicles grows and Chinese companies are able to mass-produce batteries at lower costs.

Christophe Perilla, CEO of French auto parts manufacturer Valeo, said that China has now become the company’s main market because the manufacturing threshold for internal combustion locomotives has been lowered. . He believes that this allows China's new energy vehicle companies to not only stand out in the domestic market, but also become potential vehicle exporters.

#According to the editor’s understanding, in this context, some European automobile giants such as Volkswagen, Renault and BMW are facing severe challenges. They hope to increase sales of electric and hybrid vehicles without the support of government subsidies.

Renault CEO Luca De Meo said at the IAA Mobile Conference in Munich that the company will continue to increase investment in new technologies, battery factories and gigafactories, And it hopes to remain competitive in emerging markets through its newly formed electric vehicle unit Ampere.

Oliver Blum, CEO of German auto giant Volkswagen, also acknowledged the competitive pressure from Chinese auto companies. He revealed that Volkswagen has formulated a new China strategy to focus on technology development that meets the needs of Chinese consumers. At the same time, Volkswagen has also partnered with Chinese electric vehicle startup Xpeng, joint venture partner SAIC Motor, and autonomous driving company Horizon Robotics cooperates.

Despite the competition, Bloom said competition helps improve technology. He pointed out that Volkswagen has rich experience in car driving capabilities, high quality standards and many brand advantages, but it also needs to accelerate development in electrification, digitalization and connectivity. Volkswagen has laid out huge cost plans to expand electric vehicle production and reduce battery production costs.

The editor learned that China has rapidly built battery factories and continuously increased production capacity in the past decade, which has also intensified the competitive pressure on European automobile companies. However, European companies say that although they can also obtain various subsidies and incentives, there is still a certain gap compared with the United States and China, and policymakers need to follow up faster.

It is worth noting that Porsche is focusing on parts and components, hoping to differentiate itself from Chinese competitors through high-quality parts manufacturing. Michael Steiner, head of Porsche R&D, said the company is committed to developing batteries with higher energy density to meet the needs of high-performance cars.

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