Elected officials in Europe are raising the alarm over a slowdown in the production of cars and electric vehicles, blaming overburdening regulation and stiff competition from global rivals such as China. The automotive sector is one of the staples of Europe’s industry, accounting for 7% of EU GDP. But carmakers are struggling to adapt to the production of battery-electric vehicles, a transition Brussels is betting on as it prepares to phase out the production of combustion engine cars by 2035, part of its ambitious bid to become the first climate-neutral continent. A recent report suggested th…