26.12.2023, Moscow.
The pace of development of the Chinese car industry is such that European car manufacturers, including Mercedes and BMW, may eventually cease to exist, said Maksim Oreshkin, an economic adviser to Russian President Vladimir Putin, in an interview published by Ekspert magazine on December 26.
He noted that Chinese car manufacturers are not only taking over the Russian market but have also come to the top of the world.
“I wouldn’t be surprised if companies like Mercedes and BMW pass into history in ten years. As brands, they will probably remain, but they will repeat the fate of Volvo, which was sold to China,” Oreshkin said.
In his opinion, these brands will eventually cease to be European. The presidential aide said that European manufacturers have lost their sales market and advantages in technology that they had five to ten years ago.
Rossa Primavera News Agency earlier wrote that one of the leading developers of internal combustion engines in Germany, head of the Institute of Piston Machines at the Karlsruhe Institute of Technology, Professor Thomas Koch said on December 16 that the German automotive industry is becoming less and less competitive every year.
In his opinion, Germany cannot compete with China in the production of cars because of more expensive electricity and high costs for employee salaries. He also believes that the German automobile industry is losing its competitiveness by refusing to produce cars with internal combustion engines.
Source: Rossa Primavera News Agency
