Chinese automakers are poised to strengthen their presence in Europe as discussions on electric vehicle tariffs progress, with a potential agreement involving a price undertaking to prevent undercutting. Meanwhile, global automakers face challenges in both Europe and China, with significant layoffs and a looming price war as competition intensifies. UBS analysts suggest that foreign carmakers should pivot towards affluent consumers and leverage China's advancements in technology and R&D to remain competitive.
Germany is facing significant anxieties over deindustrialisation, particularly in Baden-Württemberg, home to major companies like Bosch and Mercedes. Minister Danyal Bayaz warns that the country has wasted the benefits of globalisation, leading to underfunding amid rising energy costs and increased competition from China, alongside potential tariffs from the U.S. This precarious situation threatens to collapse Germany's established business model.
China's manufacturing sector is rapidly adopting automation to combat rising labor costs and a shrinking workforce. Companies like Tusk Robots and Zongwei are leading the way, providing training and support to ensure ease of use for their sophisticated machines. Despite a growing market for domestic robots, a significant skills gap remains, particularly among migrant workers, necessitating ongoing education and training initiatives to prepare the workforce for advanced manufacturing technologies.
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