Chinees Electric car makers are the threat to overall Industry globally
China supported their EV industry over decade by spending whooping 230.86 billion, hence they are able to produce Low cost, Quite good quality EV cars, now they are setting up factories all over the world to target the market from the vicinity.
USA came up with policy of 100% tarrif on Cinees EVs, as they are facing same challenges they faced way back from Japanees car makers.
Europea automotive industry facing
Higher energy cost (Sanction on Russia)
Higher wages
But their tarrif against Chinees EVs are not harsh as USA (17-38% untill now)
Industry experts saying : Its not short time blip, not some kind of cyclical challenge, Its a longer term structural transition, longer term structural compition against more players than past it really take hard work to survive.
Probably Europe will also need to come up with steep tariffs to safe guard and balnce the concerns of Economy, Environment, Industry. Consumer demands.
KPIT definitely will be benificiery in such acse
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