Germany’s Economy Minister, Peter Altmaier, had a stark warning for the country’s automakers: invest in electric cars or lose out in the future.

Altmaier provided the advice in an interview with German newspaper Bild, via Reuters, on Monday and questioned why companies and automakers hadn’t invested sooner.

He also said companies should be investing “two-digit billion amounts” to secure Germany’s future as the automotive industry shifts. Specifically, he claimed German automakers should develop an electric car with the range of a Tesla (presumably the Model 3) that costs much less.

If companies don’t heed his warning, Altmaier said Europe will face the fact that jobs and value will go to Asia and the United States instead. In total, the German auto industry accounts for around 800,000 jobs.

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The country also plans to make Germany a more electric-car friendly place. In the years to come, 100,000 new electric-car chargers will come online and the government plans to lower taxes for EV drivers.

On a separate front, Altmaier also encouraged Germany to lead in the self-driving car and battery industry.

“The first safe self-driving cars must operate with German technology,” he said.

Volkswagen and Audi have taken some of the most aggressive steps to pursue self-driving cars, though U.S. companies such as Waymo have garnered more media attention.