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 “Easy profits lured German carmakers into doing “more of the same” for years, says Eberhard Weiblen, boss of Porsche Consulting, an advisory firm owned by the eponymous carmaker. But this strategy is now backfiring badly. Homegrown, electric-only marques such as BYD, Nio and Xpeng have wooed Chinese drivers with technologically sophisticated vehicles that, underpinned by subsidies, also sell at far lower prices.”

https://archive.ph/gcHSK#selection-3807.0-3811.219