There might be NO battery production in Europe, it will mostly move to China.
VW exec says high energy prices will kill car battery production in Europe
‘Europe is not cost-competitive in many areas,’ said head of Volkswagen brand.
BERLIN — German car giant Volkswagen may stop investing in battery factories across the bloc if the EU fails to tame energy prices and beef up its industrial policy, according to a senior executive at the company.
"Europe is not cost-competitive in many areas, in particular, when it comes to the costs of electricity and gas," Thomas Schäfer, who runs the Volkswagen brand, said in a post on social media slamming Europe's industrial policy.
"If we don't succeed in quickly lowering energy prices in Germany and Europe, then investments in energy-intensive production, or for new battery cell factories, in Germany and across the EU will no longer be feasible," he said.
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