European Automakers Don't Have A Response To China's EV Offensive

Ford Is Struggling To Make Its EV Business Work

But Ford is not alone in its struggles, with all legacy automakers both in the U.S. and in Europe facing increased competitive pressure from China, while they deal with high inventories, falling prices, and weakening consumer demand. Europe’s largest automaker, Volkswagen (OTC:VWAGY) has not only lost its strength in China to BYD, but it is also struggling on the home front. 

Tensions At Volkswagen Are Running High 

Chinese EV Makers Are Steaming Ahead

Despite the global EV slowdown, Chinese EV makers are not pushing the brakes. 

China is determined to win the race to EV dominance. By the looks of it, it is leading the way. Consequently, the automotive landscape is undoubtedly evolving in the EV era that is in the making. Unfortunately, the changing face of the automotive industry does not look too good for legacy automakers that lack a systematic response to China’s EV offensive. 

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