Job creator or industry killer? Europe's EV sector faces Chinese investment dilemma
Eyebrows raised and brow furrowed into a puzzled smile, French President Emmanuel Macron held a model of a cleanly sculpted, sheer white truck. To his left, Wen Han, a 35-year-old Chinese entrepreneur, beamed through thick, black-rimmed glasses.
In Macron's hand was a miniature Windrose
electric lorry , its sleek, forward-leaning nose and central driving position evoking science fiction more than the gritty world of road haulage.
The Chinese company, founded by Han just three years ago, announced this week that it would build a €175 million (US$199 million) factory in northern France. Bigger investments and flashier names came to last week's Choose France summit, but few were set against a geoeconomic backdrop as charged as Windrose Technology's.
The European Union is locked in a trade dispute with China over
electric vehicles . It is also wrestling with whether and how to harness Chinese investment in the sector. Around the continent, a debate is being waged on whether China's prowess in the sector can be a job creator or an industry killer.
Han is certain it is the former.
'He told me he wants me to bring the whole ecosystem to France,' Han said in an interview, when asked what Macron told him.
Although only 30 Windrose trucks are on the roads worldwide, Han is ambitious. He wants to make 4,000 of them a year in France from 2027 and is eyeing an American plant too. He is already planning to float Windrose on a US stock exchange and told Macron he would like a secondary listing in France.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
an hour ago
- South China Morning Post
Le Mans 24 Hours race: China's first winner Ye Yifei says he is in dreamland
Ye Yifei said he felt like he was dreaming after becoming China's first winner at the 24 Hours of Le Mans race with Robert Kubica's AF Corse team in France late on Sunday. Advertisement In a thrilling 93rd edition of the race, the top four were separated by just over 20 seconds going into the final 15 minutes. Former Formula One driver Kubica of Poland and his co-drivers Ye and Britain's Philip Hanson finished just 14.084 seconds ahead of a Porsche driven by Kevin Estre, Matt Campbell and Laurens Vanthoor. The winning AF Corse car takes a curve during the Le Mans endurance race. Photo: AP . Hong Kong was represented by Antares Au and Jonathan Hui Kin-tak , with Au finishing sixth in the Le Mans Grand Touring 3 category and 39th overall in a Porsche 911 GT3 R, and Hui coming 14th in the same category, 47th overall, in a Ferrari 296 Victory by AF Corse's bright yellow 'privateer' Ferrari gave the Italian marque a third consecutive win in the world's most famous endurance race. For Ye, it helped to erase the pain of the 2021 race, when he, Kubica and Louis Deletraz led the Le Mans Prototype 2 category before their Team WRT Oreca suffered an engine failure on the final lap. Advertisement 'I'm at a loss for words,' said Ye, who first arrived in Le Mans at the age of 14 on an exchange programme to try to become a professional driver. 'It's going to take me some time to realise everything that's happened today. Right now I feel like I'm dreaming. Maybe in two seconds I'll wake up and none of this will exist.
South China Morning Post
an hour ago
- South China Morning Post
UK appoints first woman to head MI6 spy service
The UK government has appointed Blaise Metreweli as the first-ever woman to head its MI6 spy service as the country faces 'threats on an unprecedented scale', Prime Minister Keir Starmer announced on Sunday. Advertisement The MI6 Secret Intelligence Service (SIS) achieved global fame through Ian Fleming's fictional agent James Bond. Metreweli will be the 18th head of the service, Starmer's Downing Street office said in a statement. 'The historic appointment of Blaise Metreweli comes at a time when the work of our intelligence services has never been more vital,' Starmer said. The next MI6 chief, Blaise Metreweli. Photo: United Kingdom Foreign Office via AP 'The United Kingdom is facing threats on an unprecedented scale – be it aggressors who send their spy ships to our waters or hackers whose sophisticated cyber plots seek to disrupt our public services,' he added.
South China Morning Post
2 hours ago
- South China Morning Post
Le Mans 24 Hours race: China's first winner Ye Yifei says he is in dreamland
Ye Yifei said he felt like he was dreaming after becoming China's first winner at the 24 Hours of Le Mans race with Robert Kubica's AF Corse team in France late on Sunday. Advertisement In a thrilling 93rd edition of the race, the top four were separated by just over 20 seconds going into the final 15 minutes. Former Formula One driver Kubica of Poland and his co-drivers Ye and Britain's Philip Hanson finished just 14.084 seconds ahead of a Porsche driven by Kevin Estre, Matt Campbell and Laurens Vanthoor. The winning AF Corse car takes a curve during the Le Mans endurance race. Photo: AP Victory by AF Corse's bright yellow 'privateer' Ferrari gave the Italian marque a third consecutive win in the world's most famous endurance race. For Ye, it helped to erase the pain of the 2021 race, when he, Kubica and Louis Deletraz led the LMP2 category before their Team WRT Oreca suffered an engine failure on the final lap. 'I'm at a loss for words,' said Ye, who first arrived in Le Mans at the age of 14 on an exchange programme to try to become a professional driver. Advertisement 'It's going to take me some time to realise everything that's happened today. Right now I feel like I'm dreaming. Maybe in two seconds I'll wake up and none of this will exist.
