Don’t forget about cheap labor over there, economies of scale with the large Chinese market, and with a very different regulatory environment. The American auto industry has an uphill battle ahead of them.
Not to excuse the lack of innovation here, I personally blame the trend of wealth extraction for executive pay and shareholder returns at the expense of long term thinking and reduced R&D spending.
Imagine losing to the Chinese despite all of the state aid, NAFTA, tax code and other policies being made for your industry.
American corpos got too greedy… Too much grifting… Useless “Leadership”
Don’t worry they’re too big to fail, they’ll just get more handouts from the government. Like banning Chinese EVa
And remember kids, protectionism is bad (except for when we do it).
I mean its not like Chinese car companies got there without significant help from their government either.
Correct but the Chinese are winning, we got dicks in our hands and nothing else to show besides national debt at 100k per head
We started in stronger position too…
Where did all the money go?!?
Oh 100% i agree. And we know where the money went. Just look at how many more billionaires there are these days
Don’t forget about cheap labor over there, economies of scale with the large Chinese market, and with a very different regulatory environment. The American auto industry has an uphill battle ahead of them.
Not to excuse the lack of innovation here, I personally blame the trend of wealth extraction for executive pay and shareholder returns at the expense of long term thinking and reduced R&D spending.
Thays not really true, it’s the automation.
For example
https://www.theenergymix.com/automation-not-cheap-labour-drives-chinas-solar-and-battery-edge-ritchie/