this post was submitted on 19 Nov 2023
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A Boring Dystopia
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In 1982, a Chinese delegation reached Turin for a joint venture. FIAT, the major Italian car maker (with a long and nefarious history), answered that in China there were no roads, and bicycles crowded the few there were.
The delegation went to Munich, signed a deal with Volkswagen and that's the story of how German car makers gained a foothold in the Chinese market.
And now, because German auto-makers dragged their feet transitioning to electric cars, VW is bleeding market share in China.
Oil beats automotive