German Executive Warns EU Risks Becoming “Province of China”
(MENAFN) The European Union's heavy dependence on China for essential raw materials poses a significant threat to its industrial strength, a German business leader has cautioned.
Stefan Scherer, the Chief Executive Officer of AMG Lithium, a manufacturer of batteries for electric vehicles, voiced his concerns during an interview with a news agency.
He stressed that without short-term protective measures, the EU risks lagging behind in vital technological sectors.
Currently, China processes about 60 percent of the planet’s lithium and leads the world in battery component manufacturing, granting it immense control over crucial supply chains.
Scherer remarked to the publication that “Europe has to become independent of China,” speaking from AMG Lithium's facility in Bitterfeld-Wolfen, Germany.
Despite reassurances from European Commission President Ursula von der Leyen regarding plans to reduce reliance and enhance local production capacities, Scherer noted that the European market continues to be inundated with inexpensive imports from China — ranging from steel materials to full battery systems.
Scherer emphasized that if Brussels fails to implement strong and immediate policy interventions, the EU’s manufacturing foundation will keep deteriorating.
He warned that “it might be better to apply to be a province of China,” adding, “It’s an interesting thought if you think it through. We are really at a tipping point and it has nothing to do with the war in Ukraine, it’s a complete change of global relationships.”
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