My discussion about China's rise as a leading tech and industrial superpower is not new. Bundled with this discussion is the fact that the way Chinese companies compete with European and American incumbents is complicated as they don't see markets as if they were lagging twenty years behind:
The problem is that EU automakers are still largely talking about the car whereas no one on the other side is competing on the car. Just like Apple doesn't compete with smartphones, Chinese automakers compete as platforms. Platforms with a hardware layer (robust industrial skateboard solutions, among other things), a full software layer (including mapping and payments), an energy layer, and a data layer (including open-source level 5 self-driving). And yes, years of experience in the EV industry and full-on governmental support. - First, they ignore the Chinese EV, then they laugh at it, then they say it's unfair... (2022)
2024 Update: too late for strategy
But to be fair, we are now pretty much past this point of trying to be smart by foreseeing how Chinese automakers will disrupt our markets. (Feel free to replace 'automakers' with energy providers, luxury companies, smartphone, plane, or train manufacturers... according to your market.) If it was difficult to admit then that these competitors would be soon enough in position to outcompete the West, we are in the uncomfortable position of needing to accept that they're already here.
The ones that will accept this update are the ones that will still have a chance to survive and not be the new BlackBerry or Nokia.
My point now is about a required shift in strategy.