Yeah, well, European auto-makers should’ve gotten their shit together instead of dragging their feet on EVs and trying to squeeze extra profits from the SUV fad.
European auto-makers founded those companies with their billions. Now they will be eaten by them.
In 2010, BYD Auto Industry Co., Ltd. and Daimler AG, now known as Mercedes-Benz Group AG, formed a 50-50 joint venture named Shenzhen BYD Daimler New Technology with a brand named Denza to focus on research and development of new energy vehicles. The brand showcased a concept car called the Denza EV at Auto China in April 2012.[54] Denza was later restructured in 2021, when BYD took control of the brand by taking a 90% stake in the venture.[53] Mercedes-Benz withdrew entirely from the joint venture in September 2024. https://en.wikipedia.org/wiki/BYD_Auto
This is only one example from Wikipedia but there are plenty old articles how BMW, Volkswagen, Mercedes and other European automakers were pouring billions into China and giving away R&D for free.
Having thoroughly learnt their lesson, Mercedes now partners with Geely Autos instead, under the Smart marque. Although I think at this point the flow of knowledge and R&D might be the other way around.
Yeah, well, European auto-makers should’ve gotten their shit together instead of dragging their feet on EVs and trying to squeeze extra profits from the SUV fad.
European auto-makers founded those companies with their billions. Now they will be eaten by them.
This is only one example from Wikipedia but there are plenty old articles how BMW, Volkswagen, Mercedes and other European automakers were pouring billions into China and giving away R&D for free.
Having thoroughly learnt their lesson, Mercedes now partners with Geely Autos instead, under the Smart marque. Although I think at this point the flow of knowledge and R&D might be the other way around.
And lobbying hard to keep regulations out of their way
why?
Because they will complain in a few years that they can not sell their combustion engine vehicles anymore and that they don’t have competitive EVs