Financial Times and Bloomberg: Fabian Brandt On Rise Of Chinese Carmakers At Shanghai Auto Show 2023
April 20, 2023
Fabian Brandt, who is Partner and Global Head of Automotive Industrial Goods, Climate and Sustainability at Oliver Wyman, attended the Shanghai Auto Show 2023 to discuss the new era for the automotive industry.
The flagship event, which returned after three years of COVID-19 restrictions, gathered industry leaders and executives who were surprised by the rapid advances made by Chinese carmakers in the interim.
“The world’s carmakers now face a "moment of truth", said Brandt, who is based in Munich.
China, already the world’s biggest market for electric vehicles, is set to knock Japan from the top spot for global car export volume this year after overtaking Germany in 2022. Pointing to China’s advances in so-called infotainment features, experimental interior concepts and the use of multiple exterior cameras and sensors in anticipation of autonomous driving, Brandt said Chinese players could "jeopardise the currently very solid financial performance of many established players".
"On the cost side, the scale effects resulting from the fast adoption of electric mobility in combination with world-class battery technology innovation are resulting in highly competitive Chinese car models that will put established manufacturers under significant cost pressure," he said.
Read the full article on Financial Times.
Brandt also spoke with Bloomberg on "Bloomberg Markets: China Open". He shared insights on the EV face-off and his key takeaways on new trends and technologies emerging out of the car fair.
Watch the interview on Bloomberg.