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00:31Not only because of the level of technology they have right now, but
00:35mostly because of the speed at which they are innovating.
00:38So it's something that we have not seen
00:41in the past in the industry.
00:43We had some examples
00:45in the past like the Japanese
00:47in the 70s, the Koreans in the 90s
00:49and they were also quite
00:50innovative, but they never
00:52had the speed that the Chinese have
00:55right now, which is something
00:57that is amazing on one
00:59side, but it's also frightening in the other one
01:01because the industry, the
01:02traditional industry that we know in the US
01:05Europe or even Japan or Korea
01:07is not used to it.
01:08The design is quite unique, I would say
01:10because we don't see this kind of
01:13front fascia in the other products
01:15we're used to
01:17and inside is
01:18it doesn't look
01:20like a B hatch. It looks
01:22from an upper segment
01:24so when you get in
01:26you don't feel like you are in a small car
01:28even though we're talking still
01:30of a B hatchback
01:31it feels better
01:34in terms of quality or bigger
01:35in terms of size. I mean it's the
01:37largest automotive market in the world
01:39so all car makers
01:42whether it's multinationals
01:43or the Chinese
01:45car brands wants to take
01:47share in this market so
01:49the competition is of course very
01:51high and we still have
01:54way more than a hundred brands
01:55in this market so the consolidation
01:57is not really happening yet
01:59so the competition is really
02:01driving that price
02:03down.
02:09We have a very diverse and international
02:11audience but our largest portion
02:13of our audience online is Americans
02:15and I would say that Americans' response
02:17in general to Chinese cars
02:19is why can't I buy this?
02:21Our comments section is full of people
02:23saying things like I can't believe the
02:25government won't allow them to sell this car in my country
02:27it's so cheap, it's so high
02:29tech, it seems so nice
02:30as the cost, essentially there's something of a cost of living
02:33crisis going on in the United States in which
02:35due to inflation, due to the fact
02:37that incomes are not increasing in
02:39appropriate rate, we have people who
02:41can't afford a car because the average
02:43transaction price for vehicles is
02:45over $50,000 at this point
02:47the average working class person
02:49can't afford that so
02:51they don't really have the option to get
02:53the newest kind of vehicles which obviously
02:55lowers adoption rates for things like EVs.
02:57The technology,
02:59all the electronics,
03:03everything is very well
03:05engineered. Well it's the self
03:07driving, it's the connectivity, it's the large
03:09screens, it's the way
03:11that it integrates with the car itself
03:13and your phone
03:15I just think it's a long way
03:17it's come a long way from
03:18even 10 years ago. So the technology
03:21and it also improves with updates
03:22every other, what, 6 or 12 months.
03:24we think about it
03:37and that it is something that
03:37kids to eat.
03:37looking intoolutions
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