The EU is pressing China to loosen restrictions on exports of rare earths because of an “alarming situation” for the bloc’s car industry, with production lines in danger of grinding to a halt.
“I informed my Chinese counterpart about the alarming situation in the EU car industry — the rare earth and permanent magnets are essential for industrial production . . . this is extremely disruptive for industry,” Šefčovič said.
Sadly, politicians across Europe spent decades catering to car manufacturers, treating them as untouchable moneymakers. The industry in turn grew lazy and saw no reason to innovate. We’re stuck with outdated combustion engine cars that hardly anyone wants. While European companies were asleep, China moved ahead and built up its own electric car industry. Now Europe finds itself needing rare earths and has to hope that cooperation still outweighs competition.
That … That’s their point.
Oh nooo, not the car makers
Can those not be recycled?
China: Forgive me for asking, but you guys are a bit slow, aren’t you?
