Having met Irishman James Kennedy on the CFO Forum Europe in Prague last year, James invited me to tell a little bit more about the successful digital and mechatronic transformation within VHIT and the reasons why Chinese OEM are so successful in the electric vehicle market and so much more competitive than European carmakers who have not looked at China.
In James´ Gross Margin podcast I also shared my experiences with Chinese business practices and our new owner Wuxi Weifu High-Technology Group Co.,Ltd. where my former employer and seller Bosch is the second largest shareholder of Weifu. Both companies have a lot in common, the company culture is very similar.
The podcast title "China´s 24 hour R&D machine" might sound a little harsh (In the end, engineers are human, too.), but shows the strong dedication to customer´s requirements, which results in a fully commited, pragmatic and speedy development process. In fact, in many Chinese R&D departments, they have a day and a night shift and lights never go down.
Bottom line: we as Europeans can learn a lot from China. This is why 60% of all electric vehicles in the world are sold in China and BYD has reached Tesla. Luckily, also VHIT benefits from this as a European-Chinese automotive supplier and we are proud to be one of BYD´s lead suppliers of the Electrical Oil Pump for e-axle cooling.
How well you handle shots can gain you a competitive advantage at work.
Dr Jens Wilhelm Meyer shares insights to give you an advantage when your company gets acquired by a Chinese firm. https://hubs.la/Q02tr1Gw0
#GrossProfitPodcast #Acquisition #BusinessGrowth