European carmakers invest seven times more in EV production in China than at home
European carmakers announced last year they would invest 21.7 billion euros in China to manufacture electric vehicles (EV), compared to only 3.2 billion euros in Europe, according to clean mobility lobby group Transport&Environment (T&E). “China bet decisively on electric cars and is winning the race. It understood that production follows demand, and demand is created with smart, ambitious industrial policy. But Europe still can’t shake off its dirty diesel legacy,” said T&E clean vehicles manager Julia Poliscanova. Volkswagen leads the pack with a 10 billion euro joint venture with Chinese Anhui Jianghuai, followed by Renault-Nissan and Daimler, according to T&E.
Read the T&E press release in English here.
For background on Germany’s carmakers and the Energiewende, read the dossier BMW, Daimler, and VW vow to fight in green transport revolution.