ING: A new report released today shows that the new cars sold in Europe will be electric by 2035 - something that will have a serious impact on the European car industry.
Senior ING economists have published a report entitled "The discovery of electric vehicles threatens the European car industry" or "Breakthrough of electric vehicles threatens European car industry"And predict that barriers that stop consumers now from investing in electricity will disappear in the short term.
The drop of the prices of batteries, combined with better range between each charge along with faster charge times overall, will help confidence of buyers, as the purchase of a car that works with battery it will be just as attractive as a car with an internal combustion engine.
That might sound good to electric car fans, but the report says European carmakers have a share market που φτάνει μόνο στο 3% στην παραγωγή μπαταριών ιόντων λιθίου.
So the European factories that will try to meet the demand for electric cars will depend on countries like China and Japan for the purchase of batteries and other materials.
Electric cars have fewer components and their construction is more automated, which means that fewer jobs will be available.
Overall, ING's report presents a very bleak picture picture, though it shows there is hope if Europe shifts from the traditional business model to one that emphasizes service over sales.