Europe’s energy crisis is leaving the continent’s industry at a standstill, and its biggest car manufacturer says competitors are racing ahead as EU governments fail to provide enough support.
Energy and electricity bills surged for European citizens and industry alike this year after Russia invaded Ukraine, and Russian companies began limiting natural gas supply to Europe in response to sanctions. The crisis has hit European industry hard, particularly in sectors that demand high energy use, including fertilizer producers and steel manufacturers, both of which have significantly cut back production.
