Tesla and China Risk Leaving Volkswagen on a Road to Nowhere
$VOLKSWAGEN AG(VLKAF.US$ $VOLKSWAGEN A G(VWAGY.US$ The article revealed that (recently) Volkswagen was paying $700 million for almost 5% of Chinese carmaker Xpeng Inc. The stake in the loss-making company — which isn’t in the top 10 for EV sales in its home country — was the price VW was willing to pay for access to a technology platform to help fast-track its mainstream electric-car offerings. It was widely taken as a last-ditch attempt to turn things around. It also revealed that Tesla EVs have become the choice for consumers wanting to show they’re on the cutting edge.
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Shortly after taking the most important job in German industry, Volkswagen AG Chief Executive Officer Oliver Blume got some bad news. A top executive had been dispatched to China to review the competitive landscape and his assessment was grim...
Volkswagen had fallen behind in China during the pandemic and by the time the country began to reopen, BYD Co., Nio Inc. and other local brands had doubled the number of hybrid and electric models, with most cheaper and better than VW’s offerings.
Half a world away, Tesla Inc. has continued to expand and has laid claim to leadership in automotive innovation, undermining the German giant’s cash cow Audi — alongside Mercedes-Benz and BMW. Instead of sleek Audi sedans claiming “Vorsprung durch Technik,” Teslas have become the choice for consumers wanting to show they’re on the cutting edge.
Volkswagen had fallen behind in China during the pandemic and by the time the country began to reopen, BYD Co., Nio Inc. and other local brands had doubled the number of hybrid and electric models, with most cheaper and better than VW’s offerings.
Half a world away, Tesla Inc. has continued to expand and has laid claim to leadership in automotive innovation, undermining the German giant’s cash cow Audi — alongside Mercedes-Benz and BMW. Instead of sleek Audi sedans claiming “Vorsprung durch Technik,” Teslas have become the choice for consumers wanting to show they’re on the cutting edge.
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$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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