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Greek auto industry insiders see opportunity, not threat, in Chinese EVs

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Greek auto industry insiders see opportunity, not threat, in Chinese EVs

2024-10-05 22:31 Last Updated At:10-06 02:17

Greek auto industry insiders warn that the EU's tariffs on Chinese electric vehicles (EVs) are likely to restrict consumer choice, leaving Greece more vulnerable than established car-manufacturing nations like Germany and France.

The European Commission—the executive arm of the 27-nation EU—approved the imposition of tariffs of up to 45 percent on Chinese EVs after a pivotal vote on Friday. Ten member states backed the tariffs, 12 abstained, and five voted against the decision.

Helen Xenaki, editor-in-chief of "4Troxoi," Greece's longest-running automotive magazine, explained that Chinese EVs provide affordable, high-quality options for European consumers, emphasizing that these vehicles represent an opportunity for growth in Europe's auto industry rather than a threat.

"Consumers will view this as an opportunity, and European car manufacturers will have the chance to follow the technological pathways that China has successfully paved, particularly in areas such as autonomous driving and in-vehicle infotainment (IVI), where Europe lags behind," Xenaki said.

She also warned that European consumers could be the biggest losers if the EU's tariffs increase the price of Chinese EVs. While consumers in auto-producing nations like France and Germany may turn to more expensive domestic brands, the impact would be even greater in Greece, which lacks a national auto industry.

"I believe this will slow the transition to EVs, especially in a country like Greece, where the absence of a domestic auto industry means that rising prices on Chinese cars will make people less likely to adopt EVs," Xenaki added.

Greek dealers of Chinese EVs, however, remain optimistic. They believe that the technological sophistication of Chinese vehicles—particularly in performance, design, and battery innovation— will continue to drive their success in Europe, and that their partnerships with Chinese manufacturers will remain strong.

"We're very confident that our Chinese counterparts, SAIC Motors, will react in a very positive way, together with the rest of the Chinese manufacturers, in order to keep the competitive position of the Chinese products in the European market," said Dimitris Kavvouris, Chief Strategy Officer of Syngelidis Automotive Companies, the official importer and distributor of iconic vehicle brands.

"We have a very strong growth plan for the brand. We are opening stores, both our own and through dealers, across the country. The tariffs have not changed our plans at all," said Nikolas Taki, director of Sfakianakis Group, a local company specializing in the import and trade of cars, motorcycles, and buses.

Greek auto industry insiders see opportunity, not threat, in Chinese EVs

Greek auto industry insiders see opportunity, not threat, in Chinese EVs

Next Article

China launches methane monitoring commercial satellite

2024-11-11 21:25 Last Updated At:21:57

China on Monday launched a methane monitoring commercial satellite, the first one of its kind developed by the country, to track methane emissions worldwide.

Aboard by a Lijian-1 Y5 commercial carrier rocket together with 14 other satellites, the Xiguang-004 satellite was launched at 12:03 (Beijing Time) and has entered the planned orbit.

Carrying multiple payloads, including a methane concentration detector and an imaging camera, the satellite is capable of identifying sources of methane emissions in coal mines, landfills, and oil and gas fields.

"We focus on the specific point-source of methane emissions, such as a specific mining area, an industrial zone, or a section of the pipelines. The application scenario serves as a supplement to China's carbon monitoring satellites providing detailed perspectives on emissions," said Qin Xiaobao, deputy head of the data application department of the satellite's developer Xiopm Space.

Scientists say that in the process of global warming, the intensity of warming caused by methane is much higher than that of carbon dioxide. In a 20-year time scale, the intensity of warming caused by methane is 84 times that of carbon dioxide.

Xiguang-004 is also the world's first monitoring satellite specifically designed to focus on methane gas.

It can conduct high-frequency, high-precision observations of point-source methane leaks and emissions globally, providing technical support for the establishment of a comprehensive methane emission monitoring system.

"Our satellite is specifically designed to focus on methane gas emissions, setting the goals and direction for global methane monitoring. This initiative aligns with the needs of our nation [of achieving zero-carbon emissions] and addresses critical objectives related to global environmental change," said Li Zhizhong, academician from the International Academy of Astronautics.

China launches methane monitoring commercial satellite

China launches methane monitoring commercial satellite

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