“Our business model has changed.” That’s what Oliver Blume, the chief executive of the Volkswagen Group, Europe’s largest automotive giant, said at a recent press conference in Madrid to present the new Cupra Raval. He was referring to the deeply challenging moment the industry as a whole is going through, one in which the center of innovation and production has shifted from Europe to China.
The auto industry’s ‘annus horribilis’: Trump’s tariffs, Chinese rivals and EV slowdown drag the sector into heavy losses
By News Desk
News Desk
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