European companies are 'ready to engage'
"[European carmakers] get it now, that the Chinese [automakers] are a real threat. The question is what do they do about it," Kames said.Renault CEO Luca De Meo on Monday said that the French carmaker is continuing to ramp up its investment in new technologies, particularly in its new EV-dedicated unit, Ampere, which he believes puts the company in good stead against international competition.
China's advances in Europe's electric vehicle sphere can also teach European countries how they can better crack into the Asia market, Chris Reitermann, CEO of Ogilvy Asia Pacific and Greater China, told CNBC's Evelyn Cheng on Aug. 25. "A lot of those big car companies, they're on the sidelines watching their market share destroyed," he said.