European car manufacturers, having lagged in investing in electric vehicle technology, are now facing stiff competition from Chinese automakers.
While the EU debates trade barriers against Chinese electric vehicles, Chinese companies are setting up factories in Hungary, attracting major investments.
Hungary’s strategic location and favorable policies, championed by Viktor Orban’s government, are enticing Chinese companies to establish production bases in Europe.
This move poses both opportunities and challenges for European carmakers.
On one hand, they benefit from access to Chinese batteries for their electric vehicles, but on the other hand, they face the risk of being outcompeted by Chinese firms in their own market.
The situation underscores the global shift toward electric vehicles and the changing dynamics of the automotive industry.
(Credit: France24)