It’s getting panic stations & squeaky bum time amongst the legacy automakers who have 50/50 JV’s (Joint Ventures) with Chinese auto manufacturers from the big Japanese, German, French, Italian, South Korean, USA etc automakers as the Chinese 6B emission standards will be implemented on 1st July 2023. reuters.com/world/china/chi … 023-05-09/
It’s becoming a perfect storm with car inventory at dealerships across the country with nearly two million ICE cars that wont meet the new emission standards. Most if not all of these legacy car manufacturers make most of their profits from ICE car manufacture in China, VW make over 50% of their profit there & that will come to an end on the 1st July,
Mercedes CEO says German industry wouldn’t exist without China.
youtube.com/watch?v=4FOIqPzNbiw
Those ICE car factories & ICE production lines in China will be worthless after the 1st July. What are they going to do? Especially the big European automakers. If they lose the Chinese car market & wont be able to make ICE cars there anymore & the EU has gone all-in on electric vehicles & already cant make enough affordable ones.
China at the moment is flooding the EU with electric cars which will mean they’ll lose the Chinese market & their own European market to them in the coming years.