A senior consultant for BYD Company Limited in Europe stated on Wednesday that media reports detailing Volkswagen AG's plans to significantly increase job cuts represent a 'wake-up call' for the continent's automotive industry.

Alfredo Altavilla remarked that this is the first genuine alarm bell for the European car manufacturing sector, speaking at the Reuters Automotive Summit Europe held in Frankfurt.

BYD Company Limited is aiming to expand its European production footprint through brownfield investments, and Altavilla expressed doubts about the competitiveness of German manufacturing bases. He added that Spain and France are under consideration as potential locations, with a final decision expected soon.