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‘China’s car market has lost all reason’ – the country’s largest western carmaker refuses to compete in Tesla and BYD’s EV price war
VW Group China boss Ralf Brandstätter says he's willing to sacrifice market share during the price war to protect the equity of his company's car brands.
Volkswagen is in the starting phase of a new EV product cycle it hopes will increase its total China sales by a third in the mid-term, allowing it to fully utilize its installed local capacity of 4 million cars annually. Despite the $30,000 price tag, its sporty SU7 sedan that debuted last year looked and performed so much like a European grand tourer that Xiaomi needed to defend itself from suspicions imitation took flattery to a whole other level. Volkswagen serves as a litmus test of a legacy carmaker’s desire to adapt and change with the times as demand shifts from gas-powered cars relying on mechanical innards like pistons and camshafts to EVs defined by their high-tech software features.
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