BERLIN, July 1 (Reuters) – Volkswagen’s reported plans to drastically ramp up cuts are a “wake-up call” for the European automotive industry as Chinese carmakers target a higher market share, BYD’s special advisor for the region said on Wednesday.
“It’s the first real wake-up call for the European industry,” Alfredo Altavilla, BYD’s special advisor for the European market, told the Reuters Automotive Europe conference in Frankfurt.
He expressed doubts over the competitiveness of German manufacturing sites as BYD looks to boost its production footprint in Europe with a brownfield investment. Spain and France are candidates and a final decision is close, he added.
(Reporting by Christoph Steitz and Rachel More, editing by Linda Pasquini)