The Frankfurt Auto Show marks the start of the much delayed electric car revolution, but the timing couldn’t be worse
The new electric vehicles, led by Volkswagen’s ID.3, Honda’s little electric E, the SmartEQ ForTwo, the electric Mini and the Porsche Taycan, are a great technical achievement. Unfortunately, they are mostly forced by European Union carbon dioxide regulations, and not by consumer demand. They are too expensive, too limited in their abilities, with an inadequate charging network.
Another surprise awaits participants. Climate activists are expected to try and disrupt the show with anti-car protests.Germany’s once rock solid economy is faltering and gross domestic product slipped 0.1% in the second quarter and might well contract again during the current three months, spelling recession.
Felipe Munoz, global automotive analyst at JATO Dynamics, said the world’s automotive industry faces hard times. Munoz said the industry is looking for a revival to start in China or India, but that would require government help. Peter Fuss, partner at consultants EY’s Global Automotive Center in Frankfurt, acknowledges there will be problems, but is positive about the long-term.
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