A 'Chinese storm' is looming over Europe's growing electric vehicle (EV) sector, Renault Chairman Jean-Dominique Senard told Reuters on Saturday, as Asia's superpower dominates key raw materials to make batteries for zero emission cars.
Renault's chairperson Jean-Dominique Senard looks on during a visit by the French President to the site of the future factory of Japan-based battery maker Envision AESC group, where Renault SA develops an electric-vehicle manufacturing hub, in Douai, France June 28, 2021. Ludovic Marin/Pool via REUTERS/File Photo
"When I talk about a Chinese storm, I'm talking about the strong pressure today related to Chinese vehicle imports into Europe," Senard said. China's export restrictions are escalating a technology war with the United States, potentially causing more disruption to global supply chains. Europe finds itself in the middle of the spat, compelling it to look for alternatives in the worst-case-scenario.
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