CCTV News: Industry experts said that the full liberalization of foreign equity restrictions in the automotive industry means that the development of China's automotive industry has entered a new stage, and more liberal market competition will accelerate the survival of the fittest in the automotive market.
Zhao Fuquan, dean of the Institute of Automotive Industry and Technology Strategy at Tsinghua University, said that after the liberalization of foreign equity restrictions in the automotive industry, market competition will be more intense, not only China's local car companies, including second- and third-tier foreign car brands will be greatly challenged, and some weak car brands may accelerate their withdrawal from the market.
Zhao Fuquan, dean of the Institute of Automotive Industry and Technology Strategy at Tsinghua University, said that after years of joint venture cooperation and independent innovation, China's auto industry has accumulated a lot of experience in R&D and manufacturing, supply chain construction, marketing system and brand building, and has also cultivated and reserved a large number of talents.
Especially in recent years, automobiles have also formed a number of independent brands with strong capabilities in electrification, networking, intelligence and sharing. Entering a new stage, if Chinese auto enterprises can seize the opportunity of industrial restructuring and adhere to innovation, a more adequate market competition environment will also accelerate the development of advantageous independent brand cars.
Source: CCTV