E22: Can Autos Survive a Triple Threat?
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The auto industry is an incredibly competitive one to begin with, with more than 60 large manufacturers globally and a hundred or so brands between them. The shift to electrics and hybrids provides even greater levels of choice for the consumer. And now, the European auto industry faces a triple threat of Chinese competition in all markets, aggressive emissions reduction targets amid a difficult transition toward electric vehicles, and global trade friction exacerbated by the Trump administration’s stance on tariffs. Join host Elise Badoy and European autos analyst Harald Hendrikse as they discuss the future of the European car industry and how its companies are addressing the current slate of structural challenges.
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Elise Badoy, Head of Europe, UK, Middle East and Africa Research, Citi
Elise Badoy is a Managing Director and Head of Europe, UK, Middle East and Africa Research. Elise joined Citi in February 2010 and is a member of the Global Research Executive Committee. Prior to Citi, Elise worked at Goldman Sachs from 1999 to 2009, initially on the buy-side at GSAM and from 2001 in the Global Investment Research division covering the Consumer Staples sector. Prior to joining Goldman Sachs, she worked at Daiwa Securities in Equity Capital Markets and at ING Barings in Investment Banking. Elise was named in Financial News’ 100 Most Influential Women in European Finance 2018 and was a 2019 Women in Banking and Finance award for achievement finalist. Elise graduated from Ecole Superieure de Commerce de Paris (ESCP) and is a CFA Charterholder.
Harald Hendrikse, European Autos & Auto Parts Analyst, Citi
Harald Hendrikse is a Managing Director at Citi Research covering the European Autos and Auto Parts sector. Harald joined Citi in June 2023, having over 20 years’ experience in sell-side research in SMID, Aerospace & Defence, and Automotive sectors, and research management. In other roles, he has also acted in a Specialist Sales capacity; and managing a long-short Global Cyclicals hedge fund in London before that. For the previous nine years, Harald worked at Morgan Stanley in a similar sell-side equity research role covering Autos, and has also worked at Merrill Lynch, Nomura, Credit Suisse, and Schroders Securities. Harald has a Bachelor’s degree in Economics from the London School of Economics.
