France and Germany’s relationship questioned as Scholz goes alone on policy

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2 years ago

October 26, 2022

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Officials have denied problems in the Franco-German relationship, but Chancellor Scholz’s focus on domestic politics is upsetting some lawmakers in Europe.

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Fresh tensions between France and Germany are challenging their relationship at a time when their unity is critical for broader European policy in tackling the energy crisis.

The leaders of the two nations will meet in Paris on Wednesday, but this encounter almost got canceled.

It was initially meant to be a broader discussion including government ministers, then it was announced it was being postponed, and eventually, it was transformed into just a meeting between the two heads of state.

“The Franco-German’s historical commitment to close cooperation seems questioned, or at least challenged, today,” Alberto Alemanno, professor of EU law at H.E.C Business School, told CNBC via email.

He added that the action of German Chancellor Olaf Scholz is “creating the deepest divides within the Union.”

France and Germany are the two largest economies in the European Union and two of the founding nations of this political grouping. Their unity is essential for EU policymaking.

France and Germany have had their differences over how to tackle the energy crisis. While, for example, France defended a cap on European gas prices, the German government only agreed to do so last week — and with several conditions attached.

Germany has also been criticized for approving a 200 billion euro ($200.2 billion) rescue package looking to support German companies and families while blocking steps at the EU level to raise more money and support European nations with less fiscal room.

French Finance Minister Bruno Le Maire said in the wake of this plan that the euro zone needed to work together and avoid fragmentation among the 19 countries that share the common currency.

In addition, there are concerns in the broader EU about Scholz’s upcoming trip to China and for looking to do business with a nation that is increasingly deemed as a rival to European countries. There are also issues with Germany’s long delay in delivering weapons to Ukraine.

“The relationship is obviously strained, a development I blame mostly the German government for,” Jacob Kirkegaard, senior fellow at the German Marshall Fund think tank, said via email.

“Scholz leads the first three-party coalition in German history, and as such has less control over his ‘domestic politics’ than previous German chancellors on top of having ideologically often opposed coalition members in the Greens and FDP,” he added.

‘Blown out of proportion’

French officials, however, have denied any sort of tensions, but they have acknowledged that Germany’s three-party coalition makes any sort of agreement slower to achieve.

“This has been blown out of proportion,” a French official, who did not want to be named due to the sensitivity of this issue, told CNBC about the tension between Paris and Berlin.

The changes to the original gathering have been linked to calendar issues, with German ministers reportedly arguing this was a good week for holidays with their families. Le Maire said the postponement had “nothing to do with any kind of political difficulties,” according to Politico.

The same official added that sometimes both countries move “more slowly” on policy than what would be desired, but “we are always discussing with the Germans.”

Nonetheless, they added that the German coalition, in place since December, is relatively new and “there is a learning curve there.”

“It takes a lot of time for them to find a common position,” the official said.

The German government was not immediately available for comment when contacted by CNBC.

Scholz said last week that “as far as cooperation with France is concerned, President Macron and I meet very, very often.”

Analysts at political risk consultancy Eurasia Group have also noted that “frustration with Berlin has grown” across Europe.

“While the criticism initially centered around what was perceived by many senior EU officials as Berlin’s limited military support for [Kyiv], member states across the board have now started to criticize Germany’s fiscal and energy policies too,” they said in a note Tuesday.

“Disappointment with Berlin has now gone so far that it actually risks weakening the Franco-German alliance—the EU’s single most important bilateral relationship,” they added.

Environment

Baidu- and Geely-backed JiYue brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec

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2 hours ago

November 15, 2024

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JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.

JiYue has only existed since 2021, when parent tech company Baidu announced it was expanding from software development into physical EV production, joining forces with multinational automotive manufacturer Geely.

The new “robotic EV” marque initially launched as JIDU with $300 million in startup capital before garnering an additional $400 million in Series A funding, led by Baidu, in January 2022.

In August 2023, Geely took on a larger role in JIDU alongside a greater financial stake as the brand reimagined itself as JiYue, inheriting the JIDU logo and its flagship model, the 01 ROBOCAR.

In December 2023, Baidu and Geely unveiled a second model called the JiYue 07. It was born from JIDU’s ROBO-02 concept, which debuted in 2023 and was designed to compete against the Tesla Model 3 in China.

The 07 finally launched in China earlier this year with 545 miles of range. With an all-electric SUV and sedan on the market, JiYue has unveiled an exciting new entry in the form of a performance supercar called the ROBO X. Check it out:

JiYue’s new ROBO X EV is available for pre-order now

JiYue showcased its new ROBO X hypercar in front of the crowd at the 2024 Guangzhou Auto Show earlier today. Similar to previous models but with a unique spin, JiYue described the ROBO X as an AI smart-driving supercar that, for the first time, blends artificial intelligence and autonomous driving into a high-performance, race-ready EV.

When we say “high performance,” we mean a quad motor liquid-cooled drive system that can propel the ROBO X from 0 to 100 km/h (0 to 62 mph) in under 1.9 seconds. JiYue called the new ROBO X a “performance beast” with “the perfect balance of excellent aerodynamic performance and high downforce.” JiYue CEO Joe Xia was even bolder in his statements about the ROBO X:

For the next 20 years, the design of supercars will bear the shadow of Robo X. This is the best design in the history of Chinese automobiles today, and it is a landmark presence.

Fighter-style airflow ducts bolster the EV’s aerodynamics, efficiency, and overall posture. Per JiYue, the two-seater ROBO X is expected to deliver a maximum range of over 650 km (404 miles).

The new supercar features falcon-wing doors, a carbon fiber integrated frame, and a professional racing HALO safety system offering 360° of support. The interior features an AI smart cockpit with SIMO real-time feedback to give drivers an immersive racing experience.

Furthermore, JiYue said the vehicle will utilize parent company Baidu’s Apollo self-driving technology, which could make it the first electric supercar to apply pure-vision ADAS technology that enables track-level autonomous driving.

Following today’s unveiling of the ROBO X, JiYue has officially opened up pre-orders in China for RMB 49,999 ($6,915). That said, reservation holders will need to be patient as JiYue shared that it doesn’t expect to begin mass production of the ROBO X until 2027.

What do you think? Will people be talking about the ROBO X for the next 20 years?

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Environment

Wheel-E Podcast: Solar moped, XPedition 2.0, LiveWire scooter, more

Published

2 hours ago

November 15, 2024

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Wheel-E Podcast: Solar moped, XPedition 2.0, LiveWire scooter, more

This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the launch of the Lectric XPedition 2.0, Yamaha e-bikes pulling out of North America, LiveWire unveils an electric scooter concept, PNY readying its cargo e-scooters for pilot testing, Royal Enfield’s first electric motorcycle, and more.

The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We also have a Patreon if you want to help us to avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the Wheel-E podcast today:

Here’s the live stream for today’s episode starting at 9:30 a.m. ET (or the video after 10:30 a.m. ET):

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Environment

Crude oil heads to weekly loss as looming surplus depresses market

Published

3 hours ago

November 15, 2024

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Crude oil heads to weekly loss as looming surplus depresses market

Market Navigator: Crude oil under pressure

Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market.

U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%.

Here are Friday’s energy prices:

West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
Brent January contract: $72.36 per barrel, down 20 cents, or 0.28%. Year to date, the global benchmark has lost nearly 6%.
RBOB Gasoline December contract: $1.99 per gallon, up 0.46%. Year to date, gasoline has fallen more than 1%.
Natural Gas December contract: $2.70 per thousand cubic feet, down 2.98%. Year to date, gas has gained more than 4%.

The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft.

A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump’s election victory.