Tesla and the coming EV wave will be a Tsunami for Europe. I don't see how the European car industry will be able to manage this change. There are too many investments and interests bound into combustion engines.
No, the turnover generated by the automotive sector represents 6.5% of EU GDP, in Germany it is 20%. In the US it is about 3%.
> The big manufacturers are adapting just fine
Any examples for that?
Since we don't know what the numbers mentioned above mean and if they are about comparable things, I tried to give a precise number for a sector.