Why are young domestic companies doing so much better in China’s booming e-car market than the big ol’ names in the international auto industry? US adviser Bill Russo has a theory: “We didn’t take it seriously.”
Few know the Chinese car market like Bill Russo. Almost two decades ago, the American came to China to manage the East Asian business of the US manufacturer Chrysler. He later set up his own business in Shanghai with the consulting firm Automobility. His international customers also include German car manufacturers such as BMW and Mercedes, who Russo advises on their China strategy.