China’s car buyers have fallen in love with domestic brands
Now it has happened what all non-Chinese car manufacturers have been afraid of since years.
Domestic brands outperform foreign brands. Why? Because foreign brands have failed to keep up with Chinese consumers’ demand for electric cars and S.U.V.s. They didn‘t master the digital transformation good enough.
10 years ago I was an IT architect for mobile online services for the Chinese market and I still remember how mature this market was. It was just a matter of time.
The rapid rise of great Chinese electric carmakers like Li Auto, BYD, Nio and Xpeng Motors is the main reason of this success story. The country is now the world’s largest car market, and the home teams are routing multinational competitors that had until now mined the riches of China’s giant pool of customers.