Can foreign carmakers survive in China | FT #shorts

In the world's largest car market, Western brands are losing ground. Their share of China's auto market has fallen sharply from 64% in 2020 to just over 30% today. The reason.>> [music] >> The rapid rise of domestic electric vehicle makers like BYD, Geely, and Xiaomi. Chinese companies now dominate a market where EVs and hybrids make up more than half of all new car sales. To compete, global carmakers are changing strategy.Instead of exporting their own technology, they're increasingly relying on Chinese pa ...