General Motors of Europe president Nick Reilly is none too pleased to see Asian suppliers jump out to a quick lead in electric vehicle (EV) technology. In fact, he fears that Asian rivals might just "take the market" if the European manufacturers don't react quickly. Reilly's concern stems from the ability of the Asian automakers to quickly move forward with new battery technologies and other EV-related components. As he said, the speed of advancement in technology from the Asian companies is simply "amazing."
Reilly, who is also chief executive officer of Opel/Vauxhall, hopes that many of the European brands can react quickly to overcome an influx of Asian parts. As Reilly said, "We must not miss that boat and allow Asian manufacturers to enjoy our market opportunities." Reilly admits that the task of overcoming Asian rivals will not be easy, but he believes that it can done. According to Reilly, here's how Europe can push back and take control of its own EV market:
But with many Asian manufacturers already pumping out EV components and advancing technology at a steady rate, the road to overtake them keeps getting longer everyday.Europe will also need unprecedented technological breakthroughs and major investments. It will be even more important to balance out environmental, social and competitiveness objectives. There is a massive shift of economic power to the East, and Europe must not be complacent. This means that we need to accept that more flexibility and hard work is required and that we need to be on the forefront of relevant education and research and development innovation.