3 European Stocks Estimated To Be Trading At Discounts Of Up To 45.2%
As European markets navigate cautious optimism amid geopolitical developments and mixed economic indicators, investors are keenly observing undervalued opportunities in the region. Identifying stocks trading at significant discounts can offer potential value, especially when market conditions present a blend of challenges and prospects for growth.
Name
Current Price
Fair Value (Est)
Discount (Est)
Vimi Fasteners (BIT:VIM)
€0.995
€1.95
48.9%
Wienerberger (WBAG:WIE)
€33.62
€67.13
49.9%
CD Projekt (WSE:CDR)
PLN222.90
PLN441.95
49.6%
Vestas Wind Systems (CPSE:VWS)
DKK104.05
DKK205.07
49.3%
Nyab (OM:NYAB)
SEK5.27
SEK10.42
49.4%
Cint Group (OM:CINT)
SEK6.67
SEK13.22
49.5%
Surgical Science Sweden (OM:SUS)
SEK159.00
SEK310.42
48.8%
Groupe Airwell Société anonyme (ENXTPA:ALAIR)
€1.24
€2.42
48.7%
Bactiguard Holding (OM:BACTI B)
SEK34.80
SEK68.97
49.5%
Facephi Biometria (BME:FACE)
€2.07
€4.04
48.7%
Click here to see the full list of 201 stocks from our Undervalued European Stocks Based On Cash Flows screener.
Underneath we present a selection of stocks filtered out by our screen.
Overview: CVC Capital Partners plc is a private equity and venture capital firm that focuses on middle market secondaries, infrastructure, credit, management buyouts, leveraged buyouts, growth equity, mature investments, recapitalizations, strip sales and spinouts with a market cap of €24.61 billion.
Operations: CVC Capital Partners plc generates revenue through its focus on middle market secondaries, infrastructure and credit investments, management and leveraged buyouts, growth equity, mature investments, recapitalizations, strip sales and spinouts.
Estimated Discount To Fair Value: 11.6%
CVC Capital Partners is trading at €23.15, slightly below its estimated fair value of €26.2, representing an 11.6% discount. Despite carrying a high level of debt, CVC's earnings are forecast to grow significantly at 27.4% annually over the next three years, outpacing the Dutch market's growth rate of 12.6%. Recent M&A activity includes interest in Akzo Nobel's South Asia portfolio and divesting a stake in HealthCare Global Enterprises to KKR & Co., potentially impacting future cash flows positively.
The analysis detailed in our CVC Capital Partners growth report hints at robust future financial performance.
Click to explore a detailed breakdown of our findings in CVC Capital Partners' balance sheet health report.
Overview: Just Eat Takeaway.com N.V. operates as a global online food delivery company with a market cap of approximately €3.92 billion.
Operations: The company's revenue segments include North America (€1.97 billion), UK and Ireland (€1.39 billion), Northern Europe (€1.37 billion), and Southern Europe & Australia (€372 million).
Estimated Discount To Fair Value: 45.2%
Just Eat Takeaway.com is trading at €19.37, significantly below its estimated fair value of €35.36, indicating it is undervalued based on cash flows. Despite a net loss of €1.64 billion in 2024, the company is expected to become profitable within three years with earnings growth forecasted at over 105% annually. The recent acquisition proposal by Prosus for approximately €4.1 billion underscores potential long-term value under private ownership and strategic realignment post-delistings.
Our earnings growth report unveils the potential for significant increases in Just Eat Takeaway.com's future results.
Click here and access our complete balance sheet health report to understand the dynamics of Just Eat Takeaway.com.
Overview: Icade is a full-service real estate company operating throughout France, specializing in commercial property investment with a portfolio worth €6.8 billion and property development generating €1.3 billion in economic revenue for 2023, with a market capitalization of approximately €1.69 billion.
Operations: The company's revenue segments include €1.21 billion from the Property Development Business and €375.60 million from Commercial Property Investment for 2023.
Estimated Discount To Fair Value: 17.7%
Icade is trading at €22.24, below its estimated fair value of €27.02, suggesting undervaluation based on cash flows. Despite a net loss of €275.9 million in 2024, the company is expected to achieve profitability within three years with earnings growth forecasted at 83% annually. Revenue growth is anticipated to outpace the French market, yet its high dividend yield remains unsustainable due to insufficient coverage by earnings or free cash flows.
Our comprehensive growth report raises the possibility that Icade is poised for substantial financial growth.
Take a closer look at Icade's balance sheet health here in our report.
Unlock our comprehensive list of 201 Undervalued European Stocks Based On Cash Flows by clicking here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ENXTAM:CVC ENXTAM:TKWY and ENXTPA:ICAD.
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American Airlines Is Giving Onboard Service a Major Upgrade
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Yahoo
an hour ago
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Spend more or get ready to speak Russian, Nato chief warns UK
People in Britain had 'better learn to speak Russian' if the Government does not ramp up defence spending, Mark Rutte has suggested. The Nato secretary general also warned that Russia could attack Nato by 2030 in a speech in London on Monday. Asked by The Telegraph if Rachel Reeves should increase taxes to fund a defence budget of 5 per cent of GDP, Mr Rutte said: 'If you do not go to the 5 per cent, including the 3.5 per cent for defence spending, you could still have the NHS…the pension system, but you better learn to speak Russian. That's the consequence.' The Nato secretary general has for weeks been pressuring allies to boost spending on defence and security to a combined 5 per cent in order to placate Donald Trump, who has threatened to withdraw American troops from Europe. Mr Rutte, who also met Sir Keir Starmer in Downing Street on Monday, was speaking hours after Russia launched its largest-ever drone attack against Ukraine, triggering Nato to scramble jets in Poland. 'We see in Ukraine how Russia delivers terror from above, so we will strengthen the shield that protects our skies,' Mr Rutte said. He added that Nato needs 'a 400-percent increase in air and missile defence' to maintain credible deterrence and defence. 'The fact is, we need a quantum leap in our collective defence,' he said. He said 'we are all on the eastern flank', referring to the border with Russia, adding that the distance between European capitals is 'only a few minutes' for Russian missiles. Last Monday, as part of the Strategic Defence Review, the Prime Minister pledged to spend 3 per cent of GDP on defence by the end of the next parliament. However, less than 24 hours later, Nato said the figure would have to rise to a minimum of 3.5 percent, which Sir Keir has agreed to without confirming how this will be achieved. Sir Keir will be under renewed pressure to explain how this uplift will be funded ahead of the Chancellor's spending review on Wednesday. The Defence Secretary has previously refused to rule out tax rises to fund an increase in defence spending. One of the central messages from Mr Rutte's speech in London urged alliance members to boost capabilities to produce materiel, arguing that Nato armies needed 'thousands more armoured vehicles and tanks'. 'Russia produces in three months what the whole of Nato produces in a year,' he said, which was followed by another stark warning: 'Russia could be using military force against Nato in five years.' But Mr Rutte also conceded that Vladimir Putin knows an attack on Nato would carry 'devastating consequences'. He said: 'We are deadly serious that if anyone tries to attack us, the consequences of that attack would be devastating, be it Russia or anyone else. 'This is not only about money and weaponry but mentality. We do realise there is a lot at stake here. The people trying to act against us must understand that.' Mr Rutte warned that China is developing its military power at breakneck speed. 'The main long-term threat against Nato is Russia. There's no doubt. But there is more than Russia. Nato was never established only to fight the Soviet Union,' he said. 'It was about protecting Nato from anyone who wants to attack us. What you see in China is an enormous build up of their military.' Taking questions after his speech, Mr Rutte insisted that the US remained committed to Nato. But he also admitted that the US had carried 'too much of the burden' in propping up the alliance as he urged Europe and Canada to spend more on defence. 'American allies have broad shoulders. Europe and Canada will do more for our shared security. That will be backed by America's rock-solid commitment to Nato,' he told the audience at Chatham House. As Mr Rutte was speaking, Canada announced it would pour extra billions into its armed forces and hit Nato's spending target five years earlier than promised. Canada has been under pressure from the United States and other Nato allies for years to increase military funding. Canada currently spends about 1.4 per cent of GDP on defence. 'Now is the time to act with urgency, force, and determination,' Mark Carney, the Canadian prime minister, said in a speech in Toronto, reiterating promises to work more closely with Europe's defence industry. Thanks for following our live coverage of Mark Rutte's speech at Chatham House in London. Here's a reminder of what he said: Nato members should boost defence spending to five per cent or be prepared to speak Russian, Mr Rutte warned Mr Rutte also singled out Moscow as the most significant threat facing Nato 'Russia could be using military force against Nato in five years,' he warned Mr Rutte warned that China was developing its military power at breakneck speed Taking questions from the audience, Mr Rutte insisted that the US remained committed to Nato, despite reports that Mr Trump was planning to withdraw troops currently stationed in Europe later this year While Mr Rutte may paint a positive picture of the UK's position on defence, he paints a rather gloomy picture of world affairs. 'The world we thought we were entering in after Berlin Wall came down is definitely gone,' he warns. 'Vladimir Putin is clearly expansionist. His economy is on a total war footing.' 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Mark Rutte is very positive about the UK's recent Strategic Defence Review, more so than other commentators have been since it was published a week ago. He praised John Healey, the Defence Secretary, for investing is 6 new munitions factories. What keeps him up at night, he tells us, is Nato nations failing to invest in production. That what will lose a war with Russia are empty ammunition stockpiles, not spending a certain amount on defence. He said following a day spent with Mr Healey and the Prime Minister, he is confident with Britain's defence strategy. However, his comments do not diminish the need to reach 5% of gdp on defence. He insists he is confident Nato nations will get there and that they will resolve this at The Hague summit later this month. Which is a rather upbeat take on the state of defence right now. Mark Rutte has refused to say whether Sir Keir Starmer agreed to boost defence spending to 3.5 per cent during their meeting in Downing Street today. Asked about his meeting with the Prime Minister, Mr Rutte said: 'Every country is working in cycles to update its defence strategy.' He continued: 'I'm really impressed by the strategic defence review. It's exactly what we need. The drones, the latest technology, investing in six factories producing ammunition. This is at the core of the UK defence review, including spending targets.' As Mark Rutte delivered his speech at Chatham House, Canada announced it would pour extra billions into its armed forces and hit Nato's spending target five years earlier than promised. Canada has been under pressure from the United States and other Nato allies for years to increase military funding. Canada currently spends about 1.4pc of GDP on defence. 'Now is the time to act with urgency, force, and determination,' Mark Carney said in a speech in Toronto, reiterating promises to work more closely with Europe's defence industry. 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America has carried 'too much' of the burden of holding up Nato, the military alliance's chief has admitted. 'American allies have broad shoulders. Europe and Canada will do more for our shared security. That will be backed by America's rock solid commitment to Nato,' he said in a speech in London. Russia could attack Nato within five years, Mark Rutte has warned. The Nato chief, who is delivering a speech at Chatham House in London, said there was 'no longer east or west' given the speed and lethality of Russian missiles. 'We are all on the eastern flank now,' he said, adding: 'The distance between European capitals is only a few minutes.' Kicking off his speech at Chatham House, Mark Rutte said he welcomed the UK government's strategic defence review, which set out how the government will boost defence spending. 'I welcome that the UK government will spend more in the future,' he said. 'I know we can count on the UK as we start the next chapter for Nato.' Mark Rutte has now started his speech. You can watch him speak at the top of this page. The Kremlin has condemned Nato's plan to quadruple its spending on air and missile defence saying it is European taxpayers who will suffer. Mark Rutte, head of the Western military alliance, will today urge for a 'quantum leap' in defence capabilities including a '400 per cent increase' in aerial defences to shield Nato against Russia. In response to the expected speech, Dmitry Peskov, Vladimir Putin's spokesman, said Nato 'is demonstrating itself as an instrument of aggression and confrontation'. 'European taxpayers will spend their money to defuse some threat that they say comes from our country,' he said. Gaps in the alliance's air defences are considered one of the Western alliance's most pressing challenges. 'We see in Ukraine how Russia delivers terror from above, so we will strengthen the shield that protects our skies,' Mr Rutte will argue at Chatham House think tank in London, after a meeting with Sir Keir Starmer. Mark Rutte, the secretary general of Nato, is about to deliver a speech at Chatham House in London, where he will argue for members to boost defence spending to counter the threat of Russia. You will be able to watch the speech live at the top of this page when it starts. The head of Nato will today announce that the military alliance needs to increase air and missile defence spending by 400 per cent. Mark Rutte, who is on a visit to London, has been pushing members to boost defence spending to 3.5 per cent of GDP, and a further 1.5 per cent security-related spending to meet Donald Trump's demand for a 5 per cent target. Mr Rutte believes the target will be agreed at the Nato summit in the Hague later this month, where the major air and missile defence boost will be top of the agenda. At a speech at the Chatham House think-tank, Mr Rutte will argue: 'We see in Ukraine how Russia delivers terror from above, so we will strengthen the shield that protects our skies.' 'The fact is, we need a quantum leap in our collective defence. The fact is, we must have more forces and capabilities to implement our defence plans in full. The fact is, danger will not disappear even when the war in Ukraine ends.' Gaps in Nato's air defences are considered one of the Western alliance's most pressing challenges. Errol Musk, father of Elon, has been pictured sitting next to Sergei Lavrov, the Russian foreign minister, at a ultra-nationalist conference in Moscow. Mr Musk is one of a number of controversial attendees at the conference, which also includes Alex Jones, the American conspiracy theorist. Volodymyr Zelensky has said that a fresh prisoner exchange with Russia is ongoing and will take place in several rounds over the 'coming days', announcing that Kyiv had received the first group of captives from Russia. 'Today, an exchange began, which will continue in several stages over the coming days,' the Ukrainian president said on social media. 'Among those we are bringing back now are the wounded, the severely wounded, and those under the age of 25,' he added. The deal to exchange prisoners of war and repatriate the bodies of killed fighters was the only concrete agreement reached at talks in Istanbul earlier this month. Russia is 'too weak' to attack Nato because it cannot even defeat Ukraine, the Hungarian prime minister has said. Asked if the war in Ukraine could spill into a conflict with Nato, Viktor Orban said: 'The Russians are too weak for that. They are not capable of defeating Ukraine, so they are not capable of attacking Nato.' But Mr Orban also said that Ukraine was losing the war and that it cannot be resolved by Europe. 'Neither the Europeans nor the Ukrainians can reach an agreement with the Russians. There will have to be an agreement between the Russians and the Americans,' Mr Orban added. A United Nations investigation has found that Russia committed war crimes by launching drone strikes on civilian areas in Kherson, which residents said turned the city into a 'human safari'. The Telegraph previously spoke to one Kherson resident, Tatiana, who survived a kamikaze drone attack in the middle of a street packed with civilians. Anastasia, a 23-year-old aid worker and Tatiana's niece, said at the time that she felt her home city had become increasingly dangerous because of Russian terror attacks. 'More and more residents of the city cannot leave the house, even for food, because there is a great possibility that they will not return home,' she told the Telegraph. 'It was so lucky my aunt came home unharmed.' The Kremlin said on Monday that an advance by Russian forces towards Ukraine's Dnipropetrovsk region was partially motivated by a desire to create a 'buffer zone'. Russia said on Sunday its forces had advanced to the edge of the east-central Ukrainian region, a claim which Kyiv has denied. If true, it would mark the first time Russian troops have reached the region in the three-year war. Its capital, Dnipro, is a major military hub for Ukraine. Asked if the advance was designed to create a buffer zone, Kremlin spokesman Dmitry Peskov said: 'Without a doubt that is part of it.' Gaps in Nato's air defences are considered one of the Western alliance's most pressing challenges. If using the war in Ukraine as the blueprint for a future conflict with Russia, cities, military bases, logistical hubs and factories will all be targeted in long-range attacks. Previous estimations have suggested that Nato's militaries only have enough air defence systems to cover 5 per cent of its Eastern flank with Russia. Some allies, like Britain, do even take surface-to-air systems particularly seriously. For example, the UK's armed forces employ the Sky Sabre system, but only have access to a handful of them. It is believed one is on loan in Poland, and another protecting the Falklands. When Mark Rutte, Nato's secretary-general, delivers a speech at the Chatham House think tank later on Monday, he will warn air defence systems need to be increased four-fold across the alliance. They are at the centre of his new capability targets, agreed by Nato defence ministers last week, which will see defence spending jump up to 3.5 per cent across the alliance. Other crucial gaps to plug include long-range missiles, heavy and light armour and the logistics needed to move vast numbers of forces rapidly from west to east in the event of a Russian invasion into Nato territory. The Kremlin said that Nato's plan for a huge boost in air and missile defence was an 'instrument of aggression and confrontation'. The Western military alliance 'is demonstrating itself as an instrument of aggression and confrontation', Kremlin spokesman Dmitry Peskov told reporters in Moscow. Mark Rutte, Nato Secretary-General, is due to say in a speech in London on Monday that the alliance needs a 400 per cent increase in air and missile defence. Russia launched 479 drones at Ukraine in the biggest overnight drone bombardment of war, the Ukrainian air force said on Monday. As well as drones, 20 missiles of various types were fired at different parts of Ukraine, according to the air force, which said the barrage targeted mainly central and western areas of Ukraine. Ukraine's air force said its air defences destroyed 277 drones and 19 missiles on Sunday night, claiming that only 10 drones or missiles hit their target. Officials said one person was injured. It was not possible to independently verify the claims. We will be bringing you all the latest updates from Nato chief Mark Rutte's statements in London and the war in Ukraine.
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China's electric cars are becoming slicker and cheaper - but is there a deeper cost?
Theo will be responding to reader comments about this article between 12pm and 1pm today. Go to the comments section at the bottom of this page to share what you think about the rise of these more affordable EVs. In China, they call it the Seagull, and it has looks to match. It is sleek and angular, with bright, downward-slanting headlights that have more than a hint of mischievous eyes about them. It is, of course, a car. A very small one, designed as a cheap city runabout – but it could have huge significance. Available in China since 2023, where it has proved extremely popular, it has just been launched in Europe with the name Dolphin Surf (because Europeans apparently aren't as keen on seagulls as Chinese people). When it goes on sale in the UK this week, it's expected to have a price tag of around £18,000. That will still make it, for an electric car on western markets, very cheap indeed. It won't be the outright lowest-priced model on offer: the Dacia Spring, manufactured in Wuhan jointly by Renault and Dongfeng, and the Leapmotor T03, which is being produced by a joint venture between Chinese startup Leapmotor and Stellantis, both cost less. But the Dolphin Surf is the invasive species that has long-established brands most worried. That is because the company behind it has been making ever bigger waves on international markets. BYD is already the biggest player in China. It overtook Tesla in 2024 to become the world's best-selling maker of electric vehicles (EVs), and since entering the European markets two years ago, it has expanded aggressively. "We want to be number one in the British market within 10 years," says Steve Beattie, sales and marketing director for BYD UK. BYD is part of a wider expansion of Chinese companies and brands that some believe could change the face of the global motor industry – and which has already prompted radical action from the US government and the EU. It means once-unknown marques like Nio, Xpeng, Zeekr or Omoda could become every bit as much household names as Ford or Volkswagen. They will join classic brands such as MG, Volvo and Lotus, which have been under Chinese ownership for years. The products on offer already encompass a huge range, from runabouts like the tiny Dolphin Surf to exotic supercars, like the pothole-jumping U9, from BYD's high-end sub-brand Yangwang. "Chinese brands are making massive inroads into the European market," says David Bailey, professor of business and economics at Birmingham Business School. In 2024, 17 million battery and plug-in hybrid cars were sold worldwide, 11 million of those in China. Chinese brands, meanwhile, had 10% of global EV and plug-in hybrid sales outside their home country, according to the consultancy Rho Motion. That figure is only expected to grow. For consumers, it should be good news – leading to more high-quality and affordable electric cars becoming available. But with rivalry between Beijing and western powers showing no sign of subsiding, some experts are concerned Chinese vehicles could represent a security risk from hackers and third parties. And for established players in Europe, it represents a formidable challenge to their historic dominance. "[China has] a huge cost advantage through economies of scale and battery technology. European manufacturers have fallen well behind," warns Mr Bailey. "Unless they wake up very quickly and catch up, they could be wiped out." China's car industry has been developing rapidly since the country joined the World Trade Organisation in 2001. But that process accelerated rapidly in 2015, when the Communist Party introduced its "Made in China 2025" initiative. The 10-year plan to make the country a leader in several high-tech industries, including EVs, attracted intense criticism from abroad, and particularly the US, amid claims of forced technology transfers and theft of intellectual property – all of which the Chinese government denies. Fuelled by lavish state funding, the plan helped lay the groundwork for the breakneck growth of companies like BYD – originally a maker of batteries for mobile phones – and allowed the Chinese parent companies of MG and Volvo, SAIC and Geely, to become major players in the EV market. "The general standard of Chinese cars is very, very high indeed," says Dan Caesar, chief executive of Electric Vehicles UK. "China has learned extremely quickly how to manufacture cars." Yet competition in China has become ever more cut-throat, with brands jostling for space in an increasingly saturated market. This has led them to hunt for sales elsewhere. While Chinese firms have expanded into East Asia and South America, for years the European market proved a tough nut to crack – that is, until governments here decided to phase out the sale of new petrol and diesel models. The transition to electric cars opened the door to new players. "[Chinese brands] have seen an opportunity to get a bit of a foothold," says Oliver Lowe, UK product manager of Omoda and Jaecoo, two sub brands of the Chinese giant Chery. Low labour costs in China, coupled with government subsidies and a very well-established supply chain, have given Chinese firms advantages, their rivals have claimed. A report from the Swiss bank UBS, published in late 2023, suggested that BYD alone was able to build cars 25% more cheaply than western competitors. Chinese firms deny the playing field is uneven. Xpeng's vice chairman Brian Gu told the BBC at the Paris Motor Show in 2024 that his company is competitive "because we have fought tooth and nail through the most competitive market in the world". Concerns that Chinese EV imports could flood international markets at the expense of established manufacturers reached fever pitch in 2024. In the US, the Alliance for American Manufacturing warned they could prove to be an "extinction-level event" for the US industry, while the European Commission president Ursula von der Leyen suggested that "huge state subsidies" for Chinese firms were distorting the European market. The Biden administration took dramatic action, raising import tariffs on Chinese-made EVs from 25% to 100%, effectively making it pointless to sell them in the US. It was condemned by Beijing as "naked protectionism". Meanwhile, in October 2024, the EU imposed extra tariffs of up to 35.3% on Chinese-made EVs. The UK, however, took no action. Matthias Schmidt, founder of Schmidt Automotive Research, says the EU's tariffs have now made it harder for Chinese firms to gain market share. "The door was wide open in 2024... but the Chinese failed to take their chance. With the tariffs in place, Chinese manufacturers are now unable to push their cost advantage onto European consumers." European manufacturers have been racing to develop their own affordable electric cars. French car-maker Renault is among them. At its factory in Douai, in northeastern France, an army of spark-spitting robots weld sections of steel to form car bodies, while on the main assembly line, automated systems mate together bodyshells, doors, batteries, motors and other parts, before human workers apply the finishing touches. The factory has been making cars for Renault since 1974, but four years ago, the ageing production lines were replaced with new highly automated, digitally-controlled systems. Part of the site was also taken over by the Chinese-owned battery firm AESC, which built its own "gigafactory" next door. It's part of Renault's wider plan to set up an ultra-modern EV "hub" in northern France. Mirroring the lean production techniques of Chinese manufacturers, the hub cuts costs by maximising efficiency and ensuring that suppliers are located as close as possible. "Our target was to be able to produce affordable electric cars here to sell in Europe," explains Pierre Andrieux, director of the Douai plant, arguing that automated processes "will enable us to do that profitably". But the company is also exploiting something the Chinese brands do not have: heritage. Its latest model, the Renault 5 E-tech, built in Douai, borrows its name from one of the company's most famous products. The original Renault 5, launched in 1972, was a quirky little everyman car with boxy looks and low running costs that became a cult classic. The new design, despite being a state-of-the art EV, pays homage to its predecessor in name and appearance, in an effort to emulate its popular appeal. But irrespective of how desirable Chinese cars are in comparison with European rivals, some experts believe we should be wary of them – for security reasons. Most modern vehicles are internet-enabled in some way – to allow satellite navigation, for example – and drivers' phones are often connected to car systems. Pioneered by Tesla, so-called "over-the-air updates" can upgrade a car's software remotely. This has all led to concerns, in some quarters, that cars could be hacked and used to harbour spyware, monitor individuals or even be immobilised at the touch of a keyboard. Earlier this year, a British newspaper reported that military and intelligence chiefs had been ordered not to discuss official business while riding in EVs; it was also alleged that cars with Chinese components had been banned from sensitive military sites. Then in May, a former head of the intelligence service MI6 claimed that Chinese-made technology in a range of products, including cars, could be controlled and programmed remotely. Sir Richard Dearlove warned MPs that there was the potential to "immobilise London". Beijing has always denied all accusations of espionage. A spokesperson for the Chinese embassy in London says that the recent allegations are "entirely unfounded and absurd". "China has consistently advocated the secure, open, and rules-based development of global supply chains," the spokesperson told the BBC. "Chinese enterprises operating around the world are required to comply with local laws and regulations. "To date, there is no credible evidence to support the claim that Chinese EVs pose a security threat to the UK or any other country." Joseph Jarnecki, research fellow at defence and security think-tank The Royal United Services Institute, argues that potential risks can be mitigated. "Chinese carmakers exist in this highly competitive market. While they're beholden to Chinese law and that may require compliance with national security agencies, none of them want to damage their ability to grow and to have international exports by being perceived as a security risk," he says. "The Chinese government equally is conscious of the need for economic growth. They're not hell-bent on solely conducting surveillance." Tesla's challenges run deeper than 'toxic' controversy around Elon Musk Xi's real test is not Trump's trade war Trump's chips strategy: The US will struggle to take on Asia But the car industry is just one area in which Chinese technology is becoming increasingly enmeshed in the UK economy. To achieve the government's climate objectives, for instance, "It will be necessary to use Chinese-supplied technology", adds Mr Jarnecki. He believes that regulators of key industries should be given sufficient resources to monitor cyber security and advise companies using Chinese products of any potential issues. As for electric cars powered by Chinese technology, there's no question that they're here to stay. "Even if you have a car that's made in Germany or elsewhere, it probably contains quite a few Chinese components," says Dan Caesar. "The reality is most of us have smartphones and things from China, from the US, from Korea, without really giving it a second thought. So I do think there's some fearmongering going on about what the Chinese are capable of. "I think we have to face the reality that China is going to be a big part of the future." Top image credit: Reuters BBC InDepth is the new home on the website and app for the best analysis and expertise from our top journalists. 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