Stellantis just pulled Jeep out of China. Carlos Tavares had just said they could not compete in the Chinese market. Now Stellantis just bought almost 20% of Chinese auto maker Leap Motor. Tavares offered up his now typical double-speak. This follows VW’s big investment is Xpeng. Both BMW and Mercedes have a large presence in the Chinese auto industry.
My read on this is that as non-Chinese auto makers realize they don’t really know how to make EVs their quickest path to the market is to just buy people who do and, for the most part, that means companies in China. If this trend continues, Tesla could end up as the biggest auto maker in Europe. What a strange game.
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