Not too long ago, the Chinese came West to learn, and possibly copy, how companies develop technologies. In today's global automotive industry, the tables have turned.
Xiaopeng He, chairman and CEO, at Xpeng Motors (the third from left) and Ralf Brandstätter, Member of the Board of Management of Volkswagen AG, China (second from the right) (Image: Xpeng CEO's LinkedIn post)
By Junko Yoshida
What’s at stake:
Why are incumbent automakers flocking to China? Gaining a share in China – now the world’s largest automotive market – is an obvious reason. But there’s another, bigger reason. They want Chinese partners.
Auto OEMs in the West know they need the nimbleness and daring necessary to build cars at a 12-18-month design cycle, faster than the current cycle of several years.
In short, they want to copy China.