BYD(SZ:002594) Guan Cha Zhe Wang·2025-12-22 04:43Group 1 - The German railway company (DB) announced a procurement plan for 200 electric buses from China, which has sparked criticism from German Finance Minister Lars Klingbeil, who advocates for "rational domestic protectionism" [1][2] - Klingbeil expressed his frustration over DB's decision to purchase Chinese electric buses while also procuring buses from German manufacturer MAN, emphasizing the need for a domestic focus in such orders [1][2] - DB's procurement plan includes a total of 3,300 hybrid or fully electric buses, with a total order value exceeding €1 billion, and the Chinese buses will be produced at BYD's factory in Hungary [1] Group 2 - The German railway and transport union has also criticized DB's decision, with union chairman Martin Burkert stating that the government had previously called for more "domestic patriotism," making the procurement decision seem contradictory [2] - Klingbeil acknowledged the leading position of China in the electric vehicle transition, noting that the future of transportation is undoubtedly electric, and German automakers need to catch up [3] - Recent analysis from consulting firm EY revealed that the combined EBIT of major German automakers Volkswagen, BMW, and Mercedes-Benz fell to approximately €1.7 billion in Q3 2025, a 76% year-on-year decline, marking the lowest level since 2009 [8]