BMW CEO explains decision to invest in internal-combustion engines
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GermanyGermanOliver-zipseToyotaBmwFrankfurter-allgemeineVolkswagen is revamping its strategy in China, creating a "China for China" initiative due to the country s dominance in the electric car market. The move includes hiring Chinese engineers, setting up an electric car plant in Hefei, and replacing European suppliers with Chinese ones. This shift, driven by China s EV growth and cost-effective production, impacts job cuts in Germany and shapes a competitive landscape challenging traditional carmakers.
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