The EU has voted to ban sales of new internal combustion engine cars by 2035 as part of its goal to reach carbon neutrality by 2050. This shift toward electric vehicles is disrupting Europe’s auto industry, which currently trails behind China. In response, the EU has imposed tariffs on Chinese vehicles. The challenge now for the EU is to sustain a competitive automotive manufacturing sector while meeting its carbon neutrality targets.

Learn more here: https://www.coface.com/news-economy-and-insights/electric-vehicles-is-europe-still-in-the-driver-s-seat-competition-between-china-and-europe-in-an-age-of-mobility-transition