Europe Needs Aggressive Cost Reductions for EVs to Compete Globally

The European automotive industry faces immense pressure to reduce production costs for electric vehicles (EVs) in order to compete effectively with leading markets in the United States and China. This urgent call to action comes from Czech Industry Minister Jozef Sikela, who underscored the necessity for Europe to take decisive steps if it hopes to maintain its position in the global market. During a recent discussion, Sikela highlighted the disparity in costs between Europe and its competitors, which has resulted in a less favorable environment for the manufacturing and adoption of EVs across the region.

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