SHANGHAI : Global automakers, including Toyota and Volkswagen, took the stage at the Shanghai auto show on Tuesday with built-for-China and electric-drive products to compete for a high-stakes comeback in the world's largest market.But after a year when trends have shifted sharply against the established
SHANGHAI : Global automakers, including Toyota and Volkswagen, took the stage at the Shanghai auto show on Tuesday with built-for-China and electric-drive products to compete for a high-stakes comeback in the world's largest market.
"Our guiding principle is development in China for China at full speed," Thomas Schafer, chief executive of VW passenger car brands said. In a mark of that reversal, BYD outsold both Toyota and VW brand vehicles in the first quarter of this year in China. Zhu Jiangmin, chief executive of privately held Leapmotor, offered a bold prediction on how low prices could go, a promising notion for consumers but threatening to automakers.
Tesla, which has faced some pushback from Chinese consumers and some of its earliest fans for not introducing new models and features faster, opted to skip the Shanghai auto show this year.
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