European squeeze puts 450 businesses at risk

06/02/2023

The Italian components observatory ( ANFIA and Turin Chamber of Commerce) notes that 60 percent of Italian component makers are already involved in new powertrain development projects. However, skills and market volumes must be won and we must avoid “losing competitiveness to cars made in China, with costs 30 percent lower than those in Europe,” notes Marco Bonometti, president of OMR, who adds,” energy costs and raw material shortages weigh on the capacity of our companies.” He is echoed by Paolo Scudieri president of ANFIA:” It is vital for social and industrial resilience that Europe also support technologies based on alternative fuels and hydrogen.” The speech by Luca De Meo, president of ACEA and CEO of Renault, reopened the confrontation with Brussels, following European Commissioner Thierry Breton’s warning about the social costs of the current transition. We point out in this regard the article by F. Greco that appeared in “Il Sole 24 Ore” on Feb. 2.

Download the article that appeared in “Il Sole 24 Ore.”