Chinese Carmakers May Boost Europe's Steel Industry, Says Voestalpine Chief
UKPulse Money Desk
Chinese car manufacturers like BYD are reportedly offering a lifeline to Europe's steel industry, according to the chief of major auto supplier Voestalpine.
- Chinese carmakers, including BYD, are seen as a potential boost for Europe's steel sector.
- This outlook comes despite ongoing factory closures in the European steel industry.
- The assessment was made by the chief of the auto supplier Voestalpine.
Chinese carmakers are reportedly providing a potential lifeline to Europe's struggling steel industry. The chief of major auto supplier Voestalpine indicated that companies such as BYD are expected to boost the sector.
This potential uplift is suggested even as factories within the European steel industry continue to close.