A German Rust Belt? As Chinese EVs like BYD swarm Europe’s key markets, historic examples of deindustrialization pose a warning to the continent’s carmakers
European automakers are still digesting the shock from the sudden onslaught of cheap Chinese carmakers like BYD onto their shores months after the first purpose-built ships started ominously carrying them to the continent.
But as more data about China’s encroachment on the European market comes to light, any denial of the country’s threat must quickly turn to acceptance to head off the worst outcome.