Newly produced electric vehicles are being seen at Tesla's Shanghai Gigafactory in Shanghai, China, on December 31, 2023.
Costfoto | Nurphoto | Getty ImagesBEIJING — New tariffs on Chinese electric cars aren't enough to help foreign automakers stay competitive, especially in the lucrative China market, according to consulting firm AlixPartners.
While collaborations are "rational" to attain market share, Dyer said it is difficult to stay in the China market long-term if foreign carmakers don't switch things up.
Last month, an analyst from the Bank of America said U.S. automakers based in Detroit should exit China "as soon as they possibly can" because they were at the losing end against China EV giants.
Electric cars are less complex than internal combustion engine-powered vehicles.
Persons:
It's, haven't, Stephen Dyer, Dyer, Cooper, —
Organizations:
Shanghai, Nurphoto, Getty, China's EV, CNBC, Porsche, BMW, Cooper, Bank of America, China EV
Locations:
Shanghai, China, BEIJING, China's, Asia, Europe, U.S, Detroit