Chinese are under cutting everything and everyone and it's going to have global consequences IMO.
It's what happens to large OEM's with huge debt, like dinosaurs they dont adapt well to change.
The Chinese are simply making better vehicles cheaper through advanced construction methods, advanced battery technology, vertical integration , Govt support and now scale, thats always a winning formula...the West as it often is has been caught flat footed and slaps huge tarrifs on, which is their version of support / subsidy , while it tries to catch up.
A large part of VW and many other legacy giants profits were made in China making ICE vehicles now in the space of handfull of years China, the largest car market, has gone from very few Electric pasenger vehicle sales to them now exceeding 50% of all new sales in China ( combined pure EV's and plug in hybrids) something that was expected by 2028 not Aug 24....the rate of adoption is staggering and there might be a few Kodak moments coming up amongst legacy automakers.
Cheees Whisky
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