While German carmakers pined for the golden era of the internal combustion engine, Chinese firms gained an almost insurmountable lead in electric vehicles. By forming joint ventures with Chinese EV and battery manufacturers, German companies could acquire the necessary know-how to remain globally competitive.
MUNICH – At September’s IAA auto show in Munich, German Chancellor Olaf Scholz appealed to domestic car manufacturers, urging them to welcome competition from Asia rather than trying to curb the influx of Chinese-made electric vehicles. No other country, he insisted, could match Germany’s automotive engineering expertise. But while Scholz’s assertion was certainly true in the golden era of the internal combustion engine, Germany lacks the expertise required to compete directly with Chinese manufacturers on EVs.
MUNICH – At September’s IAA auto show in Munich, German Chancellor Olaf Scholz appealed to domestic car manufacturers, urging them to welcome competition from Asia rather than trying to curb the influx of Chinese-made electric vehicles. No other country, he insisted, could match Germany’s automotive engineering expertise. But while Scholz’s assertion was certainly true in the golden era of the internal combustion engine, Germany lacks the expertise required to compete directly with Chinese manufacturers on EVs.