Chinese companies are making many electric cars and selling them in other countries. At the same time, big European companies like Volkswagen are losing money.

中國公司製造了許多電動車並在其他國家銷售。與此同時，像福斯（Volkswagen）這樣的大型歐洲公司正陷入虧損。

Chinese car companies spend a lot of money. They spend more than American companies. They build factories in Europe to sell cars without paying extra taxes.

中國汽車公司投入大量資金。他們的支出超過了美國公司。他們在歐洲建立工廠，以便在無需支付額外關稅的情況下銷售汽車。

Volkswagen is in trouble. The company spends too much money. The boss, Oliver Blume, says they might cut 100,000 jobs. They also want to stop making half of their car models.

福斯汽車正陷入困境。該公司支出過高。執行長 Oliver Blume 表示，他們可能會削減 10 萬個工作崗位。他們還希望停止生產一半的車型。

Some car factories in Germany might close. The European Union tried to stop Chinese cars with taxes, but Chinese cars are still very popular. Europe is worried about losing its car industry.

德國的部分汽車工廠可能會關閉。歐盟試圖透過關稅來阻止中國汽車，但中國汽車依然非常受歡迎。歐洲擔心會失去其汽車產業。

The car world is changing. Chinese electric cars are growing fast, and old European companies must get smaller to survive.

汽車世界正在改變。中國電動車快速成長，而傳統的歐洲公司必須縮小規模才能生存。

The global car industry is undergoing a major change. While Chinese electric vehicle (EV) makers are expanding their presence worldwide, established European companies, such as the Volkswagen Group, are being forced to make deep cuts to reduce costs.

全球汽車工業正經歷一場重大變革。當中國電動車（EV）製造商在全球擴大影響力時，如福斯集團（Volkswagen Group）等傳統歐洲公司則被迫大幅削減成本以降低支出。

There is a clear difference in how Chinese and American companies are investing. According to data from Atlas Public Policy, Chinese firms announced about $101 billion in overseas investments for EVs and batteries between 2019 and 2025, which is much higher than the $38 billion invested by U.S. companies. This growth is happening because the Chinese domestic market is full and companies want to avoid trade barriers. For example, by building factories in Hungary, they can sell cars in the European Union without paying high tariffs. Experts emphasize that this strategy helps Chinese firms gain market share and control important technology in robotics and power systems.

中國與美國公司在投資方式上有明顯差異。根據 Atlas Public Policy 的數據，中國公司在 2019 年至 2025 年間，宣布在電動車與電池領域的海外投資約為 1,010 億美元，遠高於美國公司的 380 億美元。這種成長是因為中國國內市場已趨於飽和，公司希望避開貿易壁壘。例如，透過在匈牙利建立工廠，他們可以在無需支付高額關稅的情況下在歐盟銷售汽車。專家強調，此策略有助於中國公司獲取市場份額，並掌控機器人與電力系統等關鍵技術。

At the same time, Volkswagen Group is reorganizing its business because its operating costs are 20% higher than those of its competitors. CEO Oliver Blume stated that the company might need to cut an additional 50,000 jobs, which could bring the total number of lost positions to 100,000. This decision follows a sharp drop in profits, which fell from €22.6 billion in 2023 to €8.9 billion recently. Furthermore, sales in China decreased by 26% in the first half of the year. To improve profits, the group plans to remove about 50% of its car models, focusing only on the most successful ones across its eight brands.

與此同時，福斯集團正對其業務進行重組，因為其營運成本比競爭對手高出 20%。執行長 Oliver Blume 表示，公司可能需要額外裁減 50,000 個職位，這將使總裁員人數達到 100,000 人。此決定源於利潤大幅下滑，從 2023 年的 226 億歐元跌至近期的 89 億歐元。此外，今年上半年的中國市場銷售額下降了 26%。為了提高利潤，該集團計劃取消約 50% 的車款，在其八個品牌中僅專注於最成功的產品。

Additionally, four German factories in Emden, Hanover, Zwickau, and Neckarsulm are in a dangerous position because their future use is not yet confirmed. Although the European Union has introduced tariffs to limit the number of cheap Chinese EVs, the results are mixed. A study by T&E shows that while some Western brands are moving production back to Europe, imports from Chinese firms like BYD and Geely continue to rise. Consequently, there is a risk that Europe could lose its industrial strength due to slow government action and different national strategies regarding subsidies and labor laws.

此外，位於 Emden、Hanover、Zwickau 和 Neckarsulm 的四家德國工廠處境危險，因為其未來用途尚未確定。儘管歐盟引入關稅以限制廉價中國電動車的數量，但結果不一。T&E 的研究顯示，雖然部分西方品牌將生產線遷回歐洲，但如比亞迪（BYD）和吉利（Geely）等中國公司的進口量仍持續上升。因此，由於政府行動緩慢，以及各國在補貼與勞工法方面的策略分歧，歐洲面臨失去工業競爭力的風險。

The automotive sector remains unstable, marked by the rapid global expansion of Chinese EV production and the necessary downsizing of traditional European manufacturers.

汽車產業仍不穩定，其特徵為中國電動車生產的快速全球擴張，以及傳統歐洲製造商必須進行的規模縮減。

The global automotive industry is experiencing a significant realignment as Chinese electric vehicle (EV) manufacturers expand their international footprint while established European firms, notably Volkswagen Group, implement drastic cost-reduction measures.

全球汽車產業正經歷顯著的重新調整，中國電動車（EV）製造商正擴大其國際版圖，而歐洲傳統企業（尤其是福斯集團）則在採取激進的成本削減措施。

The current industrial landscape is characterized by a divergence in investment strategies between Chinese and American firms. Data from Atlas Public Policy indicates that Chinese entities announced approximately $101 billion in overseas EV and battery investments between 2019 and 2025, significantly outpacing the $38 billion invested by U.S. counterparts. This expansion is driven by domestic market saturation in China and the strategic circumvention of trade barriers; for instance, the establishment of production facilities in Hungary facilitates tariff-free access to the European Union. Analysts suggest this 'industrial diplomacy' not only secures market share but also establishes critical dependencies in robotics and power train technologies.

目前的工業格局呈現出中國與美國公司在投資策略上的分歧。Atlas Public Policy 的數據顯示，中國企業在 2019 年至 2025 年間，海外電動車與電池投資額約為 1,010 億美元，大幅領先於美國對手的 380 億美元。此擴張是由於中國國內市場飽和以及戰略性規避貿易壁壘所驅動；例如，在匈牙利建立生產設施可實現免關稅進入歐盟。分析師認為，這種「工業外交」不僅確保了市場份額，還在機器人與動力傳動技術方面建立了關鍵依賴。

Concurrently, Volkswagen Group is executing a comprehensive restructuring to address a 20% overhead cost disadvantage relative to its competitors. CEO Oliver Blume has indicated that a theoretical reduction of 50,000 additional positions may be required, potentially bringing total workforce reductions to 100,000. This contraction is necessitated by a precipitous decline in operating profits—falling from €22.6 billion in 2023 to €8.9 billion recently—and a 26% decrease in sales within the Chinese market during the first half of the year. To optimize margins, the group intends to reduce its global product portfolio by approximately 50%, targeting the elimination of underperforming models across its eight brands.

與此同時，福斯集團正執行全面的重組，以解決其相對於競爭對手高出 20% 的管理成本劣勢。執行長 Oliver Blume 指出，理論上可能需要額外削減 5 萬個職位，這可能使總裁員人數達到 10 萬人。此次縮減是因為營運利潤急劇下降——從 2023 年的 226 億歐元跌至近期的 89 億歐元——以及今年上半年在中國市場的銷量下降了 26%。為了優化利潤，該集團擬將全球產品組合削減約 50%，旨在刪除其八個品牌中表現不佳的車款。

Institutional instability is further compounded by the precarious status of four German production sites in Emden, Hanover, Zwickau, and Neckarsulm, for which viable future utilities have not yet been confirmed. While the European Union has implemented tariffs to mitigate the influx of subsidized Chinese EVs, the impact is varied. A T&E study notes that while Western brands have shifted some production back to Europe, Chinese imports from firms like BYD and Geely continue to grow due to excess capacity. The systemic risk of 'deindustrialization' in Europe is exacerbated by delays in the Industrial Accelerator Act and divergent national strategies regarding labor deregulation and state subsidies.

制度的不穩定性因四個德國生產基地（位於 Emden、Hanover、Zwickau 和 Neckarsulm）的危險狀態而進一步加劇，這些基地的未來可行用途尚未獲得確認。雖然歐盟已實施關稅以減緩補貼性中國電動車的湧入，但影響不一。T&E 的研究指出，儘管西方品牌已將部分生產移回歐洲，但由於產能過剩，比亞迪（BYD）和吉利等公司的中國進口車仍持續成長。由於《工業加速法案》的延遲以及各國在勞動力去管制化和國家補貼方面採取的分歧策略，歐洲「去工業化」的系統性風險進一步增加。

The automotive sector remains in a state of volatility, defined by the aggressive globalization of Chinese EV production and the forced operational downsizing of legacy European manufacturers.

汽車產業仍處於波動狀態，其特徵是中國電動車生產的激進全球化以及傳統歐洲製造商被迫的營運縮編。