Germany-based engineering giant Bosch has issued a warning to automakers about throwing thrown all their efforts behind electric cars.
The global car market is undergoing a rapid shift towards a zero emissions future made possible by EVs, many of which will feature technical solutions provided by Bosch. But the multinational auto parts supplier highlights the shortage of natural gas in Europe as an example of the danger of relying too heavily on one fuel source.
Natural gas prices have rocketed in Europe since Russia invaded Ukraine, and the situation has become even more grave in recent weeks as Russia, which supplies most of Europe with its gas, closed off the Nord Stream 1 pipeline. Russia’s Gazprom energy company had been due to resume gas delivery to Germany after a short halt due to a claimed “malfunction” with the line. But the firm later announced it was closing the pipeline indefinitely while repairs are carried out, a move many believe is a retaliation to the G7 countries’ announcement of a price cap on Russian oil.
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