Volkswagen and other European giants risk falling behind in an industry where manufacturing and sales dynamics are changing with incredible speed.
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00:00 Car makers are showcasing their latest electric vehicles at the Beijing Auto Show.
00:07 Sales of cars, especially electric models, have been falling ahead of the event.
00:13 European manufacturers have travelled to the Chinese capital to unveil their new models.
00:18 All major European car manufacturers have until May 4th demonstrated the capabilities of their models,
00:26 as the show unfolds amidst an intensifying price war among the world's electric vehicle makers.
00:32 The European Union has previously questioned low Chinese prices for electric vehicles,
00:37 and last year launched an investigation into Chinese state subsidies for the production of electric vehicles.
00:44 European groups such as Volkswagen and Stellantis have changed their strategy and are now partnering with China.
00:51 The BYD brand is to become the first Chinese company to produce passenger cars in Europe
00:56 by establishing a manufacturing facility in Hungary.
01:00 [SWOOSH]