Chinese automakers manufacturing cars in Europe could become new customers for steel and component suppliers. voestalpine chief Herbert Eibensteiner said this, pointing to BYD as a potential buyer.
“When the Chinese come in and produce cars, that can be a positive factor,” Eibensteiner told the Financial Times. BYD is “very close to us in Hungary,” he said, so “it makes sense to consider them as a new customer.”
Europe’s automotive industry is facing a wave of production cuts, announced by Volkswagen and BMW, as well as automotive supplier Schaeffler. voestalpine, meanwhile, has said it is still able to maintain its supply volumes to the automotive industry.
Eibensteiner links interest in Chinese automakers to the difficulties facing traditional European brands: new customers could offset falling demand for steel and components.
