Happy to attend the Reuters Events: Automotive Europe 2024 in Munich with interesting inputs from different speakers. - Stellantis CEO Carlos Tavares: We need stable framework conditions, political objectives should not be constantly questioned. And protectionism is not the answer to Chinese competition. It leads to more inflation in the domestic markets and weak exports. - Volkswagen’s Group Board Member for Technology Thomas Schmall was also clear: A "Master Plan" is now needed in Europe. The USA had made a decisive strategic step with the Inflation Reduction Act, whereas China is following its own strategy as well. Something similar is lacking in Europe. There are still two to three years to react. - In the panel "How is Government Regulation changing the Automotive Industry Landscape?" I underlined this message. Our current problem is not the CO2 target for 2035, but instead we need flexibility, a robust enabling framework and suitable funding conditions to achieve this goal.
Christof-S. Klitz’s Post
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Key auto market trends ... what's in store for Europe?
The global powerplay is changing: While Chinese OEMs win at home and gain traction in Europe, tightening regulation in major markets will likely force players to localize in USA, Europe and China. For more digital mobility trends, and economic opportunities in the automotive industry, check out our latest edition of the Digital Auto Report: https://lnkd.in/gJRDgT8E
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Reuters Events - Global Project Director
1moThanks so much for attending and providing your valuable insights into such an important topic for our industry!