Chinese EVs threaten dominance of European car giants

News Snapshot:

The effects are likely to be felt around the world, including in Australia, which mines about 53 per cent of the world’s supply of lithium, virtually all of which is sold to China. In Europe, fearful car giants sounded the alarm in Munich. Renault chief executive Luca de Meo said the Chinese were “a generation ahead” of the European car makers. “We need to catch up very, very quickly,” he warned. BMW chief Oliver Zipse said the Europeans might not even have that chance. “The base car market segment will either vanish, or will not be done by European manufacturers,”...