Autonomous Vehicle News
The country's car manufacturers are also facing headwinds but theirs are magnified by rising structural problems in the once-powerful industry. Chinese manufacturers are also making rapid technological progress catching up fast with industry bellwether, Tesla. Chinese car buyers, from both the middle class as well as higher income brackets, are increasingly favoring domestic brands. The tie-up with the Chinese startup has a price tag of $700 million for VW and aims to bring two electric VW models to the Chinese market by 2026. European manufacturers would increasingly also be pressured by Chinese electric vehicle manufacturers in their home markets.