As EU Targets Chinese Cars, European Rivals Sputter

Major European automakers have lowered their profit forecasts for this year (Credit: AFP)

As the EU seeks to put a brake on competition from Chinese electric cars, European automakers are stuck in second gear.

German group Volkswagen, BMW, Mercedes and Stellantis, a 15-brand behemoth that includes Jeep, Fiat and Peugeot, have all issued profit warnings in recent weeks.