From Breakingviews - Pru CFO exit adds urgent task to new CEO’s agenda
Chinese cash is set to fuel Europe’s green mobility challenge. More than one in five cars sold in the continent last year was electric, making the region the world’s second largest market for e-vehicles after China.
That offers an enticing new opportunity for the battery makers from the People’s Republic, which already supply European brands such as Volkswagen , BMW and Stellantis , as well as globetrotting compatriots like Volvo-owner Geely. Over-reliance on Chinese market leader CATL and its peers could be a risk. But rival European battery groups are still scarce, and global carmakers have more to gain than lose.
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