T&E’s latest analysis on investments in electric cars makes a fundamental point: the EU is not the first choice globally for large automotive groups. In fact, throughout the past year, the large traditional manufacturers have chosen to invest 58 billion euros in North America, while only 42 billion of investments were secured in Old World. Further back, at least from this point of view, the Chinawith just 9 billion in investments in 2023.
Italy “almost” bringing up the rear
Europe behind North America, therefore. In this context, the situation does not make Italy happy: Ansa in fact points out that, despite being an important production hub for Stellantis and beyond, our country is among those in Europe which, together with Poland, Slovakia and Austria, has attracted the least investments, we are talking about 1.3 billion euros. Instead, the United Kingdom, Germany and Spain stand out: in all three of these cases, from 2021 to 2023 the investment flow reached double digits of billions of euros.
Europe chases North America
The fact remains that the disparity between North America and Europe from this point of view is evident: according to T&E, the Old Continent has greater difficulty in attracting foreign investors. The data speaks clearly: in North America, 65% of investments in electric vehicles in 2023 came from foreign industries, while in Europe 80% of the financing intended for the electrification of road transport comes from the European automotive sector. A concrete example comes from Stellantiswhich directed 74% of its investments to North America and committed just 10% to the Old Continent.
Investments in electric cars
We will see if in the coming years the situation will move towards a greater balance, although it must be said that the absence of clear European legislation on the future of internal combustion engines does not play in favor of investments: T&E has always turned to the European institutions calling for an end to uncertainty over the zero emissions target for passenger cars set for 2035. An ambitious invitation, which could fall on deaf ears after the composition of the new one European Parliament which will be voted on in less than a week.
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