Germany for decades led on well-engineered combustion cars. It’s now facing a watershed year in the quest to retain an edge in an age of electric vehicles.
cells and packs are so generous that the US has the potential to become the most profitable location in the world for production, UBS analysts said last year.
Interestingly, Chancellor Olaf Scholz hasn’t complained much, despite having as much to lose as anyone. The automotive industry employs around 786,000 people in Germany and is the country's biggest in terms of investments, sales and exports. Any setbacks for the nation’s carmakers and their suppliers would reverberate throughout the wider German economy.
Germany won’t completely miss out. China’s CATL, the world’s biggest maker of EV batteries, has started production at its first European cell plant in the eastern German city of Erfurt. Volkswagen is building a battery factory in Salzgitter that will be able to produce 40 gigawatt-hours of cells per year, enough for roughly 500,000 EVs.
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