Huge pressure on European policy makers this week as noted today in the Fin Review. This is, imo, going to play out very well for Vulcan who are perfectly positioned. Right place, right time.
AFR: Chinese EVs threaten dominance of European car giants
“The popularity of cheaper electric cars from companies such as BYD is becoming a serious problem for the likes of BMW and Volkswagen – and the EU itself.
“As the world’s car makers gathered in Munich this month for the International Motor Show Germany, it was impossible not to sense the shifting tectonic plates underneath Europe’s $650 billion industry.
“...It is not just a threat to the car makers, but to the whole European Union. The industry’s turnover represents 7 per cent to 8 per cent of the bloc’s GDP, and the sector employs 13 million people. So it’s little wonder that officials in Brussels, Paris and Berlin are as alarmed as their car makers. This week, European Commission president Ursula von der Leyen announced that Brussels had kicked off an investigation into China’s “unfair” public subsidies to its industry.
“...France’s Economy Minister Bruno Le Maire welcomed von der Leyen’s announcement, saying “Europe must be able to fight back”. Standing beside him, German Economy Minister Robert Habeck was more emollient.
“...This push to bring supply chains closer to home, or at least drag them away from China, could benefit Australian companies. There are many trying to set up shop in Europe to plug this gap, such as lithium producers Vulcan Energy and European Metals Group, and battery anode maker Talga.
“...The Chinese may be in pole position, but the continent’s EV race has only just begun. And officials in Brussels, Paris and Berlin will be doing everything they can to ensure that Europe’s thoroughbred motors can stay the course.”
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