Hyperdrive
Mercedes and Porsche’s Fight With China Is Coming Close to Home
After making waves with cheap EVs, Chinese carmakers are targeting the luxury segment in Europe.
China’s BYD presents the Yangwang U8 SUV at the Geneva International Motor Show in February.
Photographer: Andrey Rudakov/BloombergMercedes-Benz Group AG was once a standard-bearer of automotive refinement, but swooning sales and profits underscore how even the lucrative upscale end of the car market is feeling the heat from China.
Manufacturers led by BYD Co. have opened a new front in the fight for dominance of the auto industry by redefining “Made in China” as a global symbol of luxury for the electric-vehicle age. After challenging the likes of Mercedes and BMW AG in their home market, they’re taking the fight to Europe and making inroads.