Is China’s EV Boom Dooming Legacy Car Brands?

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Transcript

00:00So China's EV juggernaut is now, well, I mean, it's dominating the world.

00:04Is this a disaster for legacy brands like, you've got BMW, you've got Toyota, you've got Mercedes and Volkswagen.

00:11What does this mean for them?

00:12I think it means nothing less than the end of volume sales for those legacy manufacturers.

00:19And I'll give you two reasons why.

00:22One, the price of the product.

00:24Two, the quality of the product.

00:26The stuff that's coming out of China, I mean, I'm old enough to remember when Japanese motorcycles took over the motorcycle industry.

00:36And people used the phrase back then, a disparaging phrase, jack crap.

00:41I didn't, because as a young man, I could see the quality of the Japanese machinery that was coming over.

00:47Nobody is calling the cars that are coming out of China by any sort of disparaging name if they've actually experienced one.

00:54The likes of the BYD, BYD being the most popular brand name for a Chinese car here in the UK.

01:02Along with MG, which does rankle with me a bit, because I drive a real MG.

01:07Not well made, mine was made in Oxfordshire.

01:10Not a province of China, but they bought the name, they've got the rights to the name.

01:16The MG is very popular in the UK.

01:18OK, and these cars are high quality.

01:21They're not just as good as the stuff that's coming out of Europe and Japan.

01:25Often, they're better and they're considerably more affordable.