HONG KONG -- For years, Chinese state-owned automakers could count on joint ventures with major foreign brands as a magic fuel for profit. But the latest earnings suggest those days may be ending, as newer solo players like BYD have ridden a wave of electrification in the world's largest auto market, while foreign marques have lagged behind.
Automobiles
China's foreign auto joint ventures lose luster under EV onslaught
Weaker earnings spotlight state players' overreliance on likes of Nissan, Honda
A Dongfeng-Nissan joint venture dealership in Beijing. China's auto partnerships with foreign brands are losing market share, as local players like BYD catch the wave of electrification. © Kyodo
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