The European automotive industry is at a critical juncture, grappling with fierce competition from China in the electric vehicle sector. The EU Commission aims to initiate a strategic dialogue to forge an action plan for revitalizing the industry, which has not fully recovered from the pandemic's impact on new car demand.
Economic signs suggest potential recovery, yet rising public transport prices and mixed user satisfaction add to the complexity. Major suppliers like Bosch are feeling the pressure, facing significant profit declines and potential job losses.
Investments in sustainable technologies are underway, but growth remains sluggish, highlighting the urgent need for innovation and strategic interventions to ensure the industry’s future stability and competitiveness.
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