Why western carmakers' retreat from electric risks dooming them to irrelevance
4 hours ago
- #electric-vehicles
- #china-competition
- #automotive-industry
- In the 1980s, Detroit's carmakers lost market share to fuel-efficient Japanese cars during an oil crisis.
- Western carmakers are now repeating history by retreating from EVs, focusing on combustion engines despite rising oil prices.
- Chinese EV brands like BYD and Leapmotor are rapidly gaining market share in Europe and globally.
- The US has rolled back EV incentives under Trump, further slowing electrification efforts.
- European carmakers are cutting EV investments, prioritizing short-term profits from petrol and diesel cars.
- Experts warn that hesitation now could give Chinese automakers a long-term structural advantage.
- BYD has introduced advanced battery technology, offering 600-mile ranges and ultra-fast charging.
- European policymakers are sending mixed signals, weakening 2035 emission targets under industry pressure.
- Western carmakers risk losing emerging markets (India, Mexico, Brazil) to cheaper Chinese EVs.
- Failure to invest in battery tech and scale EV production may repeat the 1980s collapse of US automakers.