And, a recent tour of one of the Asian powerhouse’s vehicle plants has proved this beyond a shadow of a doubt, at least to Honda President and CEO Toshihiro Mibe.
“We have no chance against this,” Mibe said upon a visit to a Shanghai parts factory, commenting on its seamless automation across all levels of production. Logistics, procurement and all aspects of the process were so automated, in fact, that he did not spot a single human worker on the supplier’s floor.
Ford executives saying even three years ago that China was way ahead of the game
Toyota’s CEO has likewise said regarding not just his company, but the industry in general, “unless things change, we will not survive”
This is not about pure capitalism, though. The reason Chinese EVs are so successful is that the Chinese government heavily subsidizes those companies. I would not be surprised if they sell cars at a loss. So the issue is exactly the opposite of capitalism. It’s pure capitalism being crushed by big government
What do you think Walmart does when they go to a new market?
Or what amazon did for many years, or Uber, OpenAI, etc. Most startups really.
The government investing in infrastructure upgrades instead of forever bring lobbied by the fossil fuel industry is big government now?
Not saying CCP isn’t big government, but “crushed by big government” is very strong imagery
What you’re describing is capitalism, whether you like it or not