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International carmakers like General Motors and Volkswagen are losing market share in China to Chinese companies. Chinese carmakers have taken a big share of the world’s largest car market.
If global automakers think they can extend their dominance in China into the electric era, they may be in for a shock.
Kings of the combustion age such as General Motors and Volkswagen are falling behind local players in the booming electric vehicle market in China, a country that's key to funding and developing their electric and autonomous ambitions.
A key concern for foreign brands, according to one of the people close to GM plus a Volkswagen insider, is that their new EVs are being designed more for American and European markets in mind, with a heavier focus on performance and durability.