2023-11-27 07:00:00
Some of the 27 million cars that China builds every year are built in the factories of German car manufacturers. VW alone operates 33 factories in China. It was good, essential business for the German companies: VW, BMW and Mercedes sell more than one in three cars in China, usually with good profit margins.
But this most important bank in the German auto industry is no longer safe. Because China prefers to do business on its own in the future. The government there is switching to electric cars with clever industrial policy. Because German manufacturers and suppliers cannot keep up with Chinese providers when it comes to technology, China is likely to have almost complete control of the domestic market in just a few years.
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