German Media: European Electric Vehicles Can't Do Without Chinese Batteries
Batteries are the core component of electric vehicles, accounting for about 40% of the total cost. Today, both Chinese and European automobiles typically use batteries supplied by Chinese manufacturers.
Years ago, the EU recognized this dangerous dependency and attempted to make large-scale investments to foster leading companies like Northvolt. However, Northvolt—a company that carried the hopes of the entire European region—declared bankruptcy last year due to poor management.
If Europe's pivotal automotive industry fails to master future core technologies, it may one day be reduced to manufacturing for Chinese companies.
Source: DW
Original article: toutiao.com/article/1868541188457472/
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